Robinhood’s Gallagher Slams ‘Nanny State’ Regulatory Overreach
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Robinhood Markets Inc. legal chief Dan Gallagher said he sees the Securities and Exchange Commission grasping to rein in a thriving online brokerage industry instead of adapting to the ways technology has changed it.
“Regulators need to catch up,” Gallagher, a former SEC commissioner, said Wednesday at a Security Traders Association conference. “That’s the way I would -- if I was running the place -- look at it. Maybe take a look at our old rule book because of these new technologies.”