Robinhood Seeks SEC Approval for Employee Fund Investing in Stocks and Real Estate

Robinhood has filed an application with the U.S. Securities and Exchange Commission to establish the Robinhood Employee Fund, LP, allowing employees to pool money for investment in stocks, real estate, and other assets. According to Odaily, Robinhood is asking the SEC to let the fund bypass most of the regulatory rules that typically apply to investment funds designed to protect ordinary investors from fraud.