{"id":9739,"date":"2021-02-15T17:03:41","date_gmt":"2021-02-15T22:03:41","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9739"},"modified":"2021-02-15T17:03:41","modified_gmt":"2021-02-15T22:03:41","slug":"robinhood-ceo-not-registered-with-financial-industry-regulatory-authority-a-signal-of-larger-risks-to-main-street-investors-to-come","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/robinhood-ceo-not-registered-with-financial-industry-regulatory-authority-a-signal-of-larger-risks-to-main-street-investors-to-come\/","title":{"rendered":"Robinhood CEO Not Registered With Financial Industry Regulatory Authority \u2013 A Signal of Larger Risks to Main Street Investors to Come?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9690 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/FiverrLossesSmall.jpg\" alt=\"FINRA, the Financial Industry Regulatory Authority, is the U.S. broker-dealer industry\u2019s most prominent self-regulatory organization, authorized by Congress to protect investors by ensuring that the broker-dealer industry operates fairly and honestly. However, despite overseeing more than 600,000 brokers across the country, FINRA\u2019s jurisdiction does not include Vlad Tenev, the CEO of Robinhood, who is not registered or licensed with the organization.  Robinhood has been hailed as one of the fastest-growing online brokerage firms in the world, but has been the subject of extreme scrutiny over the past several weeks due to its role in recent market activity related to GameStop, AMC Theatres, and others.  Many Brokerage CEOs Are Not FINRA-Registered  Unfortunately, Tenev\u2019s lack of FINRA registration is not an exception, but the industry norm. Robinhood\u2019s response to this revelation has been that Tenev is the CEO of the holding company for Robinhood\u2019s brokerage service, not the broker-dealer itself, meaning Tenev is not required to be registered. Nonetheless, FINRA\u2019s website states that \u201cwe require individuals and firms who wish to conduct business with the investing public to achieve and maintain certification as members of FINRA.\u201d Tenev\u2019s implication in recent events has led many to question whether Tenev, and individuals in similar positions at other firms, should be deemed individuals conducting business with the investing public.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>FINRA, the Financial Industry Regulatory Authority, is the U.S. broker-dealer industry\u2019s most prominent self-regulatory organization, authorized by Congress to protect investors by ensuring that the broker-dealer industry operates fairly and honestly. However, despite overseeing more than 600,000 brokers across the country, FINRA\u2019s jurisdiction does not include Vlad Tenev, the CEO of Robinhood, who is not registered or licensed with the organization. <a href=\"https:\/\/www.silverlaw.com\/blog\/robinhood-ceo-not-registered-with-financial-industry-regulatory-authority-a-signal-of-larger-risks-to-main-street-investors-to-come\/#more-9739\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FINRA, the Financial Industry Regulatory Authority, is the U.S. broker-dealer industry\u2019s most prominent self-regulatory organization, authorized by Congress to protect investors by ensuring that the broker-dealer industry operates fairly and honestly. However, despite overseeing more than 600,000 brokers across the country, FINRA\u2019s jurisdiction does not include Vlad Tenev, the CEO of Robinhood, who is not [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[588],"tags":[],"class_list":["post-9739","post","type-post","status-publish","format-standard","hentry","category-finra-arbitration"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Robinhood CEO Not Registered With FINRA\u2013 A Signal of Larger Risks?<\/title>\n<meta name=\"description\" content=\"Despite overseeing more than 600,000 brokers across the country, FINRA\u2019s jurisdiction does not include Vlad Tenev, the CEO of Robinhood.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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