Robinhood’s CEO is not licensed by a powerful Wall Street regulator
Robinhood CEO Vlad Tenev is not licensed by FINRA, Wall Street’s powerful self-regulator, even though he presides over one of the nation’s largest and most powerful online brokers.
Tenev has emerged as the public face of Robinhood as the startup has come under fire for its decision, on one of the market’s most volatile days, to suspend buying of GameStop, AMC and other stocks boosted by an army of traders on Reddit.
Last week, Robinhood says it was blindsided by surging capital requirements from its clearinghouse. To meet those requirements, the app announced that it had raised $3.4 billion within four days to fund its explosive growth.