Robinhood Chief Legal Officer, Former SEC Commissioner
Washington DC
- Tweets 2,116
- Following 690
- Followers 13,523
- Likes 4,272
Dan Gallagher retweeted
For too long, regulatory uncertainty has prevented responsible, yet critical innovation from taking root in the United States.
It has been a priority of my chairmanship to reverse this trend.
Though temporary, the Innovation Exemption is a principled, structured grant of relief designed to resolve genuine legal uncertainty, while providing investor protections and upholding market integrity standards.
Through this order and a number of ongoing initiatives, we will ensure that America remains the world’s premier destination to build the next generation of financial infrastructure.
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Great to see the SEC lead here.
Robinhood supports the @SECGov innovation exemption.
Americans deserve access to crypto technology and all of the financial innovations it makes possible, including instant settlement, 24/7 trading, and fractionalization by default.
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Back in 2015 (and for many years before and after that) I said: “I believe we need a long-term project to get the SEC out of the business of policing shareholder proposals.”
I guess 11 years counts as “long-term.” Bravo @SECPaulSAtkins!
sec.gov/news/speech/activism…
TODAY🚨: The SEC proposed rescinding Rule 14a-8, which exceeds the scope of the agency's statutory authority and intrudes into matters of state law.
The SEC also proposed amendments to Rule 14a-4(c) to provide companies with greater flexibility and shareholders with greater control regarding proposals for which a company may seek discretionary proxy voting authority.
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Dan Gallagher retweeted
Should companies be able to approve or veto the tokenization of their stocks?
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Men for others, my brother!
Must be that common Jesuit education @dangallagher. The Society of Jesus didn't teach backing down from what's right, did it? :)
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We know a little something about the U.S. securities laws and will not “DECIST.” Send your lawyers and we’ll educate them.
Seriously? What’s the concern you ask, @vladtenev? The list of concerns is almost existential.
U.S. securities laws are in place to protect investors. For good reason, we spend millions and millions of dollars every year to comply with U.S. securities laws. In good. conscience, how can Robinhood as a U.S. company set up an operation in far offshore Jersey, an island 3000 miles away, and market a security sort of posing as AMC in some shape or fashion, and not comply with U.S. securities laws. That is shocking and shameful.
Our past issuance of equity to strengthen our balance sheet was vital to our success. Your setting up some kind of fictitious synthetic equity market decouples stock token ownership from a company’s ability to control its own capital raising efforts.
Share ownership gives shareholders various rights, including the right to vote their shares. Your stock token pretend to be some form of stock ownership, but disclosures to the contrary notwithstanding, they are not ownership and they deprive investors of their rights.
This quasi-fake market you are creating on the island of Jersey sows distrust amongst the public about financial markets in general. There already is distrust in financial institutions, you are potentially making it far worse.
These are but a few of my concerns about your actions.
I hereby call on you and Robinhood to voluntarily CEASE AND DECIST the trading of AMC stock tokens. If you don’t, our high priced securities counsel has been asked to see whether we can force you to stop.
I also wonder how can the SEC possibly support your sham ignoring of U.S. securities laws. You can be sure we will be asking them.
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Dan Gallagher retweeted
This week, @MichaelDell and Susan Dell's gift starts reaching Trump Accounts across America.
$250 invested for up to 25 million kids – an incredibly generous commitment to giving more children a stake in America's future.
This is how we create more owners.
Get your child signed up: trumpaccounts.gov
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Deferred maintenance! Bravo Chairman!
This proposal would streamline and modernize the Commission’s rules to reflect transfer agents’ current processes and operations, including the use of electronic communications and blockchain technology in connection with securities offerings and the transfer of shares.
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The 80s are over. So should be the exchange ban on extending dual-class sunsets. A case for repeal, with David Berger and Steven Solomon, in @HarvardCorpGov’s Forum.
corpgov.law.harvard.edu/2026…
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Dan Gallagher retweeted
Great two days in DC with builders and policymakers working toward the same goal: America leading the next generation of markets.
Thank you to @POTUS, @ChairmanSelig, and @SECPaulSAtkins for bringing everyone together.
Markets like this should be built here — by American companies, for American investors.
Time for Congress to pass the CLARITY Act.
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Our DC team just launched a new policy blog tackling the biggest issues shaping finance. The first post from our Chief Economic Advisor covers the state of private markets and shares tangible steps for democratizing the path forward. Excellent insights, Dr. Boyd! robinhood.com/us/en/policy/b…
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Congrats Paul!
Devin just got new counsel. Today I’m joining @cognition as Chief Legal and Global Affairs Officer.
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Dan Gallagher retweeted
Today’s victory wouldn’t have been possible without all of our partners🏆
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Paul you a true legend! Thank you for being such a fierce advocate for the rule of law and rational regulatory policy.
After 6 years I’m leaving @Coinbase. I’ll be transitioning to an advisory role at the end of the month and continue my service on the Board of Coinbase National Trust Company. I will be a Coinbase ally for life and am grateful to @brian_armstrong, @emilemc and the Coinbase board for the opportunity of a lifetime. ⬇️
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Dan Gallagher retweeted
Trump Accounts give eligible American children a huge head start on the American dream. Give the next generation a true ownership stake from day one, and watch an entire generation grow up invested in the success of the country. Trump Accounts help make that possible.
Trump Accounts are officially active and open for contributions. Everyone can contribute — parents, grandparents, family, friends, and employers can collectively contribute up to $5,000 annually to help eligible American children build a financial foundation from the very beginning.
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Trump Accounts are about accessibility to investment opportunities for the next generation of eligible American children from day one. Building a financial foundation from the beginning is one of the most powerful things a family can do. Proud to be part of making this real.
Trump Accounts are officially active and open for contributions. Everyone can contribute — parents, grandparents, family, friends, and employers can collectively contribute up to $5,000 annually to help eligible American children build a financial foundation from the very beginning.
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Dan Gallagher retweeted
250 years in, and we're still finding new ways to build toward the American dream.
I believe expanding ownership will lead to a free, stable, and prosperous society, and Trump Accounts help get us there. Proud to play a part in this initiative. 🇺🇸
Today, on the 250th anniversary of our country, Trump Accounts have arrived 🇺🇲
American families can start making contributions to their children’s Trump Accounts and build towards their long-term financial security from an early age.
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Dan Gallagher retweeted
What better day than the 250th anniversary of our country to officially launch Trump Accounts. Helping families get a head start on building long-term financial security for their children is something I'm really proud to be a part of. 🇺🇸
Today, on the 250th anniversary of our country, Trump Accounts have arrived 🇺🇲
American families can start making contributions to their children’s Trump Accounts and build towards their long-term financial security from an early age.
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Trump Accounts are officially live. Giving American children a head start on building long-term financial security from an early age is something worth celebrating today.
Today, on the 250th anniversary of our country, Trump Accounts have arrived 🇺🇲
American families can start making contributions to their children’s Trump Accounts and build towards their long-term financial security from an early age.
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