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  • Robinhood Announces Termination Of Resale Registration Statement

    Date 07/12/2021

    Today, Robinhood Markets, Inc. (“Robinhood”) filed to terminate its registration statement for the resale of Class A common stock received by certain shareholders upon the automatic conversion of Tranche I convertible notes in connection with Robinhood’s IPO (the “Conversion Shares”). As previously described in Robinhood’s October 8, 2021 press release, the registration statement had been filed to register the potential resale of these Conversion Shares into the public markets. Robinhood filed the registration statement pursuant to a pre-existing contractual obligation under the purchase agreement for the Tranche I convertible notes. Robinhood itself did not sell any additional securities and the filing did not represent an underwritten secondary offering. Robinhood terminated the registration with today’s filing because the contractual obligation has expired. The termination will take effect as soon as the SEC declares the amendment effective. Although the registration statement will no longer be available, former Tranche I noteholders can continue to sell these shares in the public markets under Rule 144 (which allowed investors to begin selling Conversion Shares on the 91st day after Robinhood’s IPO). Accordingly, the termination of the registration statement will not impact the number of shares of Robinhood Class A common stock that can be sold in the public markets.

  • Statement By US Secretary Of The Treasury Janet L. Yellen On FinCEN's Proposed Rule For Beneficial Ownership Reporting

    Date 07/12/2021

    Secretary of the Treasury Janet L. Yellen released the following statement on FinCEN's proposed rule for beneficial ownership reporting to counter illicit finance and increase transparency. 

  • Ontario Securities Commission Announces Temporary Changes To Service Commitments

    Date 07/12/2021

    The Ontario Securities Commission (OSC) announced today temporary changes to its service commitments in response to a significant and persistent increase in the volume and complexity of certain applications and filings.  The changes extend timelines related to reviews of certain offering documents, compliance reviews, applications and other registration materials for which the OSC is principal regulator. The extended timelines will remain in effect from December 7, 2021 to June 30, 2022.

  • Office Of The Comptroller Of The Currency: Lauren Oppenheimer To Serve As Chief Of Staff To The Acting Comptroller

    Date 07/12/2021

    The Office of the Comptroller of the Currency (OCC) today announced the appointment of Lauren Oppenheimer as Chief of Staff to Acting Comptroller Michael J. Hsu.

  • ISDA: New Frontier – IQ December 2021

    Date 07/12/2021

    The financial industry is about to collectively undergo something that’s never been tried before – the cancelling of a key benchmark that permeates all sectors of the financial market and has historically underpinned trillions of dollars of transactions. No one can say for sure what will happen on January 4 – the first London banking day after 30 LIBOR settings cease or become non-representative – but uncertainty and risk have been minimised to the extent possible by the years of work by the public and private sectors to create a comprehensive framework for transition.