Foley Partner Margaret Nelson was quoted in the Law360 article, “Robinhood’s College Tour May Fly In The Face Of Regulators,” about Robinhood’s new initiative targeting college students with cash prizes and raffles and how it has gamified the investing landscape, which may alert SEC regulators.
“This will invite more scrutiny given the fact that college students historically don’t have much money, and they’re not considered the most sophisticated of investors,” Nelson said. “And they’re probably more susceptible to the bells and whistles involved in an app that has behavioral prompts, and gaming-like aspects to it.”
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