Robinhood is a U.S.-based financial services company that offers commission-free trades of stocks and exchange-traded funds via a mobile app. Its CEO Vlad Tenev revealed that they had met with the Securities and Exchange Commission (SEC) 16 times before receiving a Wells Notice.
A Wells Notice is an official communication from the SEC which signifies that they may recommend enforcement action against a company or individual for violation of securities laws. It is named after the Wells Committee that proposed its implementation, and it