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Coinbase taps Goldman for public debut - How Airbnb and DoorDash failed to reinvent the IPO - The execs behind wealth s talent wars
Coinbase taps Goldman for public debut - How Airbnb and DoorDash failed to reinvent the IPO - The execs behind wealth s talent wars
Michelle AbregoDec 19, 2020, 20:04 IST
Lucy Nicholson/Reuters
Two weeks out from the end of 2020 and the
IPO news cycle isn t slowing down.
You d be forgiven if you thought at the beginning of the week we d maybe get a break from hearing about hot
tech companies rushing to go public, as Roblex and Affirm postponed their debuts. But by Friday, cryptocurrency exchange Coinbase, online thrift platform Poshmark, and dating app Bumble had all filed for upcoming IPOs.
Scott Olson/Getty
Happy Friday!
Big news on Thursday was Robinhood getting hit with a $65 million fine to settle a probe from the Securities and Exchange Commission over misleading communications to its customers.
In short, from 2015 to late 2018 Robinhood didn t properly disclose it received payment for order flow (a common industry practice of selling clients orders to trading firms to execute). The SEC alleged the fintech also falsely claimed its execution quality was as good, or better, than competing brokers. Robinhood s prices were actually worse for customers, costing them a total of $34.1 million, according to the SEC.
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Robinhood pays $65 million SEC fine - Two Sigma s risk-analysis tool shows big uptick - Intuit-Credit Karma deal closes
Robinhood pays $65 million SEC fine - Two Sigma s risk-analysis tool shows big uptick - Intuit-Credit Karma deal closes
Dan DeFrancescoDec 18, 2020, 17:28 IST
Traders in the Standard & Poor s 500 stock index options pit at the Chicago Board Options Exchange (CBOE) fill orders shortly before the close of trading on October 28, 2015 in Chicago, IllinoisScott Olson/Getty
Happy Friday!
Big news on Thursday was Robinhood getting hit with a $65 million fine to settle a probe from the Securities and Exchange Commission over misleading communications to its customers.
Scott Olson/Getty
Hiya.
Nice scoop from the Financial Times on Wednesday regarding the mysterious Party A bidder who competed with Morgan Stanley on its plans to acquire Eaton Vance.
Turns out it was JPMorgan. What s even more interesting, JPMorgan, which initially approached Eaton Vance unsolicited before Morgan Stanley, actually had submitted a counter offer that was higher than Morgan Stanley s winning bid.
While that offer was higher than Morgan Stanley s winning bid, Thomas Faust, Eaton Vance chairman and chief executive, declined to re-enter talks with JPMorgan because of an oral agreement with Morgan Stanley not to pursue competing transactions , according to the filing.
JPMorgan wanted Eaton Vance deal - Systematic trading in bonds - Traders talk getting in on IPOs
Dan DeFrancescoDec 17, 2020, 17:31 IST
: Traders in the Standard & Poor s 500 stock index options pit at the Chicago Board Options Exchange (CBOE) fill orders shortly before the close of trading on October 28, 2015 in Chicago, Illinois.Scott Olson/Getty
Hiya.
Nice scoop from the Financial Times on Wednesday regarding the mysterious Party A bidder who competed with Morgan Stanley on its plans to acquire Eaton Vance.
Turns out it was JPMorgan. What s even more interesting, JPMorgan, which initially approached Eaton Vance unsolicited before Morgan Stanley, actually had submitted a counter offer that was higher than Morgan Stanley s winning bid.