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无端限制散户交易,Robinhood高管未能获得自监管许可

无端限制散户交易,Robinhood高管未能获得自监管许可

Chris Morris 2021年02月08日
在CNN率先报道这则消息之后,却导致外界对公司运营产生了更多质疑。

图片来源:Noam Galai/由盖蒂图片社为TechCrunch提供

Robinhood的首席执行官,也是其快速增长的在线经纪业务代言人弗拉基米尔•特内夫,其未能获得华尔街最大的自律监管机构的许可。

虽然金融控股公司的负责人未获得许可的情况并不罕见,但CNN率先报道这则消息之后,却导致外界对公司运营产生了更多的质疑。在最近围绕视频游戏零售商游戏驿站(GameStop)引发的市场狂热之后,Robinhood因为在其中扮演的角色已经遭到了更严格的审查。

金融业监管局(Financial Industry Regulatory Authority,FINRA)是监管股票经纪商和交易所的非政府机构。这家民间行业组织要求企业和个人必须在该组织完成注册之后才能开展证券交易。

经纪交易商业务的负责人通常都会进行注册;金融业监管局的规则规定:“凡是参与公司证券业务的任何人员都必须在金融业监管局进行注册,包括销售人员、部门经理、部门主管、合作伙伴、高级职员和董事等。”

Robinhood指出,特内夫现任控股公司Robinhood Markets首席执行官,该公司是其股票经纪业务的母公司,这意味着他没有必要在金融业监管局注册。Robinhood旗下的Robinhood Financial、经纪交易商部门和其经济清算部门Robinhood Securities等证券相关子公司的负责人都已经获得了金融业监管局批准。

只有通过资格考试才能获得金融业监管局发放的许可。该项考试旨在证明一家公司及其负责人具备金融知识和资质。公众可以通过注册信息了解到相关人员的任何违规行为。

有些竞争对手公司的CEO获得了金融业监管局的许可,但并非全都如此。与Robinhood一样,将经纪交易商业务作为大型控股公司的子公司,在金融服务业中较为常见。

Robinhood自2013年创立以来,知名度飞速攀升。该网站成为许多Reddit用户的首选交易平台。这些散户上周推高了游戏驿站、AMC影院(AMC Theaters)等多只股票的价格。

Robinhood是否向可能缺乏经验的交易者充分披露了相关风险,监管机构和政策制定者对此均表示质疑。尽管存在这些问题,Robinhood仍在上周轻松融资30亿美元,用于满足其新的资本需求。

去年的问题遗留至今,Robinhood的客户在去年市场最动荡的两天中无法进行交易。(财富中文网)

译者:刘进龙

审校:汪皓

Robinhood的首席执行官,也是其快速增长的在线经纪业务代言人弗拉基米尔•特内夫,其未能获得华尔街最大的自律监管机构的许可。

虽然金融控股公司的负责人未获得许可的情况并不罕见,但CNN率先报道这则消息之后,却导致外界对公司运营产生了更多的质疑。在最近围绕视频游戏零售商游戏驿站(GameStop)引发的市场狂热之后,Robinhood因为在其中扮演的角色已经遭到了更严格的审查。

金融业监管局(Financial Industry Regulatory Authority,FINRA)是监管股票经纪商和交易所的非政府机构。这家民间行业组织要求企业和个人必须在该组织完成注册之后才能开展证券交易。

经纪交易商业务的负责人通常都会进行注册;金融业监管局的规则规定:“凡是参与公司证券业务的任何人员都必须在金融业监管局进行注册,包括销售人员、部门经理、部门主管、合作伙伴、高级职员和董事等。”

Robinhood指出,特内夫现任控股公司Robinhood Markets首席执行官,该公司是其股票经纪业务的母公司,这意味着他没有必要在金融业监管局注册。Robinhood旗下的Robinhood Financial、经纪交易商部门和其经济清算部门Robinhood Securities等证券相关子公司的负责人都已经获得了金融业监管局批准。

只有通过资格考试才能获得金融业监管局发放的许可。该项考试旨在证明一家公司及其负责人具备金融知识和资质。公众可以通过注册信息了解到相关人员的任何违规行为。

有些竞争对手公司的CEO获得了金融业监管局的许可,但并非全都如此。与Robinhood一样,将经纪交易商业务作为大型控股公司的子公司,在金融服务业中较为常见。

Robinhood自2013年创立以来,知名度飞速攀升。该网站成为许多Reddit用户的首选交易平台。这些散户上周推高了游戏驿站、AMC影院(AMC Theaters)等多只股票的价格。

Robinhood是否向可能缺乏经验的交易者充分披露了相关风险,监管机构和政策制定者对此均表示质疑。尽管存在这些问题,Robinhood仍在上周轻松融资30亿美元,用于满足其新的资本需求。

去年的问题遗留至今,Robinhood的客户在去年市场最动荡的两天中无法进行交易。(财富中文网)

译者:刘进龙

审校:汪皓

Vlad Tenev, the chief executive of Robinhood and public face of its fast-growing online brokerage, is not licensed by Wall Street’s largest self-regulator.

While it's not entirely unusual for the heads of financial holding companies to lack such licenses, the news, first reported by CNN, is raising further questions about the company’s operations, which were already coming under greater scrutiny after Robinhood's role in a recent market mania centering on the video game retailer GameStop.

FINRA, or the Financial Industry Regulatory Authority, is a nongovernment entity that regulates brokers and exchanges. The private industry group requires firms and individuals to register with it before they are allowed to trade securities.

The leaders of broker-dealer businesses are generally expected to register; FINRA rules say, “You must be registered with FINRA if you’re engaged in the securities business of your firm, which includes salespersons, branch managers, department supervisors, partners, officers, and directors.”

Robinhood points out that Tenev is the CEO of Robinhood Markets, the holding company that is the parent of Robinhood's brokerage arms, which means he is not required to register with FINRA. The heads of Robinhood's relevant securities-related subsidiaries, including Robinhood Financial, Robinhood's broker-dealer arm, and Robinhood Securities, its clearing broker, have FINRA approval.

Securing a FINRA license involves passing qualification exams. The tests are designed to show a business and its leaders are financially knowledgeable and competent. Registration also allows the public to learn of any violations by that person.

Some competitors have CEOs who are FINRA licensed, but not all. It's common in the financial services industry for broker-dealer operations to be subsidiaries of a larger holding company, as is the case with Robinhood.

Robinhood's popularity has risen immensely since its founding in 2013. The site was a primary trading platform for many Redditors who drove up the price of GameStop, AMC Theaters, and more last week.

Regulators and policymakers have questioned whether Robinhood adequately discloses risks to traders, who might be inexperienced. Despite those concerns, Robinhood had little trouble quickly raising $3 billion last week as it scrambled to meet new capital requirements.

This year’s issues follow problems last year, when Robinhood customers were unable to conduct trades for two of the market’s most volatile days.

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