Robinhood applies to establish an employee-exclusive investment fund, investing in assets such as stocks and real estate

PANews July 17 report: Robinhood is applying to the U.S. Securities and Exchange Commission (SEC) to set up the Robinhood Employee Fund, allowing employees to jointly invest in asset classes such as stocks and real estate. The fund is intended to enhance the competitiveness of recruiting and retaining employees. It asks the SEC to exempt certain regulatory rules while committing to core requirements such as anti-fraud measures and audits. Large financial institutions such as Goldman Sachs, Blackstone, and KKR have already operated similar employee investment funds.