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announced plans to allow their customers to buy into companies' initial public offerings, a privilege typically reserved for asset managers and the wealthiest of investors.
Retail brokerages — like Schwab, TD Ameritrade, and E-Trade — offering their customers shares from IPOs is nothing new. But two of the largest startup brokerages are now looking to open up the IPO market to much smaller investors, while traditional brokerages typically require customers to have upward of $100,000 in assets to participate in premarket offerings.
Robinhood still faces legal and regulatory risks as it prepares to go public. Here are 18 lawyers it's hired for help.Over the past year and a half, the company has hired lawyers from some of the most well-connected law firms to negotiate deals, scale up its compliance efforts, and spar with regulators.
Here are 18 lawyers — from ex-SEC commissioners to former lawyers at Fortune 500 companies — who have helped Robinhood tackle class-action lawsuits and high-stakes regulatory actions. GENERATION ROBINHOOD: How the trading app conditioned its inexperienced users to obsessively play the marketRobinhood has become the investing app for beginner retail traders. Its sleek design, flashy features, and simple interface have attracted 13 million users since 2013.
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