Robinhood Markets Inc. has received a notice from the Securities and Exchange Commission about alleged securities violations at its crypto division.
The company said in a regulatory filing that it received investigative subpoenas from the SEC about issues including cryptocurrency listings, custody of cryptocurrencies, and platform operations.
Robinhood Crypto has cooperated with the investigation, the company said.
Last week the crypto division received a Wells notice from SEC staff advising the unit that a preliminary determination was made to recommend that the SEC file an enforcement action against Robinhood Crypto for alleged securities violations.
The filing said that the potential action may involve a civil injunctive action, public administrative proceeding or a cease-and-desist proceeding. Remedies that may be sought include an injunction, a cease-and-desist order, disgorgement, pre-judgment interest, civil money penalties, and censure, revocation, and limitations on activities.
“After years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,’ we are disappointed that the agency has decided to issue a Wells Notice related to our U.S. crypto business,” Dan Gallagher, chief legal, compliance and corporate affairs officer at Robinhood Markets, said in a statement on Monday. “We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law.”
The company said that its crypto unit has chosen not to list certain tokens or provide products, such as lending and staking, that the SEC previously alleged were securities in public actions against other platforms. It has also attempted to register a special purpose broker-dealer with the agency.
Robinhood said that the SEC development will not impact its customers' accounts or the services it provides. The company is scheduled to report its quarterly results Wednesday after the market close.
Shares of Robinhood added 1% in morning trading.
FILE - Electronic screens in New York's Times Square announce the Robinhood IPO, July 29, 2021. Robinhood Markets Inc. has received a notice from the Securities and Exchange Commission about alleged securities violations at its crypto division. The company said in a regulatory filing that it received investigative subpoenas from the SEC about issues including cryptocurrency listings, custody of cryptocurrencies, and platform operations. (AP Photo/Mark Lennihan, File)
EDMONTON, Alberta (AP) — The Edmonton Oilers weren't ready to have their season end. Now, they're going to the limit in their second-round series against the Vancouver Canucks.
Evan Bouchard and Ryan Nugent-Hopkins each had a goal and two assists, Connor McDavid added three assists and the Oilers beat the Canucks 5-1 on Saturday night to avoid elimination and force a deciding Game 7.
“The boys were ready from the start, we obviously knew what was at stake tonight,” Edmonton forward Dylan Holloway said. “There was probably a bit of nerves, but once we kind of got settled in we played our game and rolled all four lines and got going there and never looked back.”
Dylan Holloway, Zach Hyman and Evander Kane also scored for the Oilers, and Stuart Skinner stopped 14 shots.
“We played faster, we played cleaner, we were better with the puck, better coming through the neutral zone," McDavid said. "We did a great job of getting on top of them on the forecheck and keeping pucks alive.
“Nothing to be satisfied or excited about, we just bought ourselves another day and I would expect the same level of urgency and desperation from our group. I would expect Vancouver to play a better game as well and I would expect it to be a highly-competitive, great Game 7.”
Nils Hoglander scored for Vancouver, which is trying to make it to the Western Conference final for the first time since 2011. Arturs Silovs finished with 22 saves.
“We knew obviously this was going to be a difficult test to win tonight,” Canucks forward Brock Boeser said. “Obviously, they got a couple of goals that obviously sucked and took the wind out of us. I think the belief is in this room.”
Game 7 is Monday night in Vancouver, with the winner advancing to face Dallas in the Western Conference final.
Edmonton started the scoring at 8:18 of the first period as Leon Draisaitl fed it up to Holloway and he danced through the defense before tucking it between Silovs' legs for his third of the playoffs.
“What an unbelievable effort,” Hyman said. “For a guy who came up really for the playoffs to do that, he’s had big moments here, but it’s a huge goal to settle the team down to get us up.”
Draisaitl has picked up at least one point in all 11 playoff games this season.
Less than two minutes later, the Canucks evened it up as Elias Pettersson sent a pass from behind the net out front to Hoglander, who snuck his first of the playoffs past Skinner just past the midpoint of the period.
The Oilers looked to have scored with 1 second remaining in the first on a point shot from Bouchard, but the goal was called off due to McDavid making incidental contact with Silovs.
Edmonton went ahead for good at 7:14 of the second as McDavid spotted Hyman in the slot and his shot deflected and bounced up and over Silovs and into the Vancouver net for his 10th of the playoffs. McDavid came into the game having only recorded one assist in his previous three games combined.
McDavid picked up another assist with 8:40 to play in the second as Bouchard scored his fifth goal and 17th point of the postseason on a long shot from the point. The Oilers' captain became just the 10th player in NHL history to record 20 playoff points in three consecutive seasons with his second assist.
The Oilers made it 4-1 just 3:25 into the third period as McDavid picked up his third assist, sending a backhand pass to a hard-charging Nugent-Hopkins, who scored his third of the playoffs.
Edmonton put the game away with just under 7 minutes left as the draw came back to Kane and he unleashed a wicked wrister for his fourth of the postseason.
Boeser is confident the Canucks can rebound for Game 7.
“I don’t know if it’s necessarily what you dream of as a kid, but it’s definitely an opportunity for our group,” he said. “Obviously, we can play better and we all know that. ... We’ll regroup and look at what we can do better and it’s just going to come down to who wants it more next game.”
Skinner returned in goal for the Oilers after Calvin Pickard started the last two games.
Draisaitl became just the fourth player in NHL history to record 60 assists in 60 playoffs games and the third in league history to get to 100 points — behind Wayne Gretzky and Mario Lemieux.
AP NHL: https://www.apnews.com/hub/NHL
Vancouver Canucks goalie Arturs Silovs (31) makes a save on Edmonton Oilers' Derek Ryan (10) during the second period of Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
Edmonton Oilers' Stuart Skinner (74) and Evan Bouchard (2) celebrate the team's win over the Vancouver Canucks in Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
Edmonton Oilers' Mattias Ekholm, Ryan Nugent-Hopkins, Zach Hyman and Evan Bouchard, from left, celebrate a goal against the Vancouver Canucks during the third period of Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
Vancouver Canucks goalie Arturs Silovs (31) looks away as Edmonton Oilers celebrate a goal during the third period of Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
Vancouver Canucks' Elias Pettersson (40) is stopped by Edmonton Oilers goalie Stuart Skinner (74) as Cody Ceci (5) defends during the third period of Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
Edmonton Oilers celebrate the win over the Vancouver Canucks in Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
Vancouver Canucks and Edmonton Oilers rough it up during the third period of Game 6 of an NHL hockey Stanley Cup second-round playoff series, Saturday, May 18, 2024, in Edmonton, Alberta. (Jason Franson/The Canadian Press via AP)
