Robinhood's positioning has been upgraded again, with its Securities division approved to serve as an IPO underwriter

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ME News Report, June 10 (UTC+8), Robinhood CEO Vlad Tenev announced that the company's brokerage and clearing division, Robinhood Securities, has been approved to serve as an IPO underwriter. It is currently unclear which regulatory agency completed this approval, but the regulatory process for IPOs typically involves FINRA and the SEC. This move is a further upgrade based on Robinhood's existing IPO Access business. Through IPO Access, Robinhood users can participate in subscribing to stocks of upcoming IPO companies. Underwriters play a more central role, not only assisting private companies in completing the listing process but also acting as intermediaries between issuers and investors. (Source: ODAILY)
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