Jun. 27, 2021
Dear sir/madam, I am writing to join join the above proceeding file. Back in Junly 2018, I wrote to SEC complaining about Robinhood's out-of-money option practice despite it was an option spread, but Robinhood in response it was within their power to do so, and that action caused me appximately 2500$ unnecessary investment loss. Please see attached email communication. I look forward to your response. Guangyu Xu ----- Forwarded Message ----- From: Robinhood To: Guangyu Xu Sent: Friday, August 3, 2018 Subject: SEC Complaint ##- Please type your reply above this line -## Robinhood Support (Robinhood Help Center) Aug 3 Dear Mr. Xu, Hope all is well. We received the complaint you filed with the SEC. Please see the attached document ( PW will be provided in separate email ) with our Firm's response. Please feel to reach out to us if you have any questions.. Sincerely, Robinhood Support Attachment(s) RHF Response Xu SEC ----- Forwarded Message ----- From: Help To: alex.xu Sent: Monday, July 23, 2018 Subject: SEC Response - File HO::~00669528~::HO Dear Mr. Xu: This is to confirm receipt of your you recent email concerning Robinhood Financial, LLC. We have forwarded your complaint to the firm’s compliance department and asked that it respond directly to you, with a copy to our office. Please allow two to three weeks for this process to take place. Our efforts to facilitate informal resolutions of complaints frequently succeed. In some cases, however, a firm may deny wrongdoing or it may remain unclear whether any wrongdoing occurred. If that happens, we cannot act as your personal representative or attorney. Instead, it will be for you to decide whether to pursue legal action on your own. Enclosed is information on steps you may wish to consider including arbitration and mediation, and sources of potential legal assistance. Please read these documents carefully. They describe your rights and important deadlines. If you have any questions, please contact me. Sincerely, Amy Rosenthal Investor Assistance Specialist Office of Investor Education and Advocacy U.S. Securities and Exchange Commission From: EFCN-Alex.Xu To: Help; EFCN - Alex Xu <alex.xu Sent: Saturday, July 21, 2018 Subject: Re: SEC Response HO::~00669528~::HO Hi Amy one thing I want to mention is I have received the responses from Robinhood. I think the practice that they exercised my out-of-money contracts and ahead-of-expiration is wrong, but they insisted they have the rights to do so and they insist this is the best practice by locking up clients' the other side option despite it is out of money and ahead of expiration. I believe they can just buy back the short position which is a usual practice and save client some money. Please ask them why they cannot buy back the assigned short position which is the most straight forward way. Thanks. From: EFCN-Alex.Xu To: Help; EFCN - Alex Xu Sent: Saturday, July 21, 2018 Subject: Re: SEC Response HO::~00669528~::HO Hi Amy, I have been traveling for the last two weeks. Yes you have my consent to contact Robinhood brokerage on my behalf. I have labelled and attached related ACN transactions from my account monthly statement for your review. If you need anything else or have other questions, please let me know. From: Help To: alex.xu Sent: Wednesday, July 11, 2018 Subject: SEC Response HO::~00669528~::HO Dear Mr. Xu: Thank you for contacting the U.S. Securities and Exchange Commission (SEC). We appreciate your informing us of your complaint against Robinhood Financial LLC (Robinhood) regarding the firm's handling of your Accenture PLC call options. Generally, upon receipt of this type of complaint, our office contacts the compliance department of the firm involved, requesting that the firm review the matter and provide a written response to the complaint. If you would like us to contact Robinhood about your concerns, you will first have to provide us with written consent to do so. Accordingly, please respond to this email by stating that you authorize the SEC to contact the firm on your behalf. Also, to the extent that you have additional information or documentation that may help to support your position, please send copies of the information to my attention via return email at help@sec.gov or by fax at (202) 772-9295. In the interim, you may want to review our brochure on how the SEC handles investor complaints, available at http://www.sec.gov/investor/pubs/howoiea.htm. If you have any questions, please contact me directly at (202)551-6327. Sincerely, Amy Rosenthal Investor Assistance Specialist Office of Investor Education and Advocacy U.S. Securities and Exchange Commission www.sec.gov www.investor.gov www.twitter.com/SEC_Investor_Ed