Robinhood Legal Counsel

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Sky Mavis Inc., a non-fungible, token-focused startup hit by a massive hack earlier this year, has hired its first general counsel in James Nguyen of Robinhood Markets Inc. The new General Counsel is now responsible for helping Sky Mavis set up a legal department for its global business and operations. Nguyen will also help the company navigate a changing legal and regulatory environment for projects such as Axie Infinity. As the best lawyer for the online broker, Dan Gallagher is preparing for major legal battles. „Robinhood`s focus on ensuring more people have both the opportunity and the information they need to participate in the capital markets and take responsibility for their finances is inspiring,“ said Lucas Moskowitz, vice president and deputy general counsel at Robinhood. „I look forward to working with such dedicated and talented colleagues within the legal team and across the company as we continue to advance our mission and deliver an incredible experience for our clients.“ And I was really proud to build an incredible team around me. I have three new legal assistants reporting to me, which is incredible. They have all been in place for almost a year. We have created a culture of excellence within our legal department. We support each other and demand excellence from each other and our department in everything we do. It was a thrill. When I started in May of last year, I set out to create the best financial services legal department in the country. And I think we already have it.

We keep improving, but I think it`s a quality team that is doing a great job. „With my entry, the new generation of people we`ve hired on the risk side, and with big changes in our external advisory lines, we`ve shown regulators that we`re serious people,“ Gallagher said. Nicole Trudeau, former general counsel of cryptocurrency exchange Cex.io Ltd., joined Robinhood this summer as Director and Deputy General Counsel. Trudeau, whose LinkedIn profile identifies him as the legal director of Robinhood`s cryptocurrency unit, did not respond to a request for comment. As the best lawyer for the online broker, he prepares for major legal disputes. These include possible confrontations with the SEC, which is now headed by Gary Gensler, whom Gallagher met and even worked with when he was a federal regulator. James Nguyen, who also worked at Wells Fargo & Co. and law firm Morrison & Foerster LLP, is now general counsel for Sky Mavis, the company announced Thursday on Twitter. A Robinhood spokeswoman confirmed Nguyen`s departure, but declined to comment further.

Nguyen has been general counsel and chief compliance officer of the Robinhood crypto unit since late last year, when his predecessor Benjamin Melnicki left Cross River Bank after a few months. Mr. Nguyen was previously President of Robinhood Crypto LLC. „I believe wholeheartedly in the power of democratizing finance for all and am honored and inspired to join Robinhood to be able to contribute to this mission,“ said Christina Lai, Vice President and Assistant General Counsel at Robinhood. „I look forward to working with our incredible legal team and all of Robinhood`s exceptional employees as we move into the next phase of growth and continue to find innovative ways to educate and empower our clients to participate in capital markets.“ License our cutting-edge legal content to strengthen your thought leadership and brand. Sky Mavis said Nguyen was leading the legal and regulatory strategy for Robinhood`s „early efforts to seek and obtain a national banking license and start a banking business,“ as well as his former employer`s recent offer to start a national payment business in Robinhood Money. Lucas has extensive experience in financial services law and policy in both the public and private sectors. He has held various positions in the United States. Securities and Exchange Commission, including Chief of Staff under the chairmanship of Jay Clayton and Senior Counsel in the Enforcement Division. He also served as Chief Investigative Advisor to the Senate Banking Committee and Advisor to the House Financial Services Committee.

He was most recently a partner in WilmerHale`s securities division and holds a bachelor`s degree in politics from Princeton University and a juris doctor from Georgetown University Law Center. LexisNexis® and Bloomberg Law are external online distributors of ALM`s extensive collection of current and archived versions of legal news publications. LexisNexis® and Bloomberg Law clients may access and use ALM content, including content from the National Law Journal, The American Lawyer, Legaltech News, New York Law Journal and Corporate Counsel, as well as other sources of legal information. An IPO would have been enough to keep the company`s legal department busy, but news of the settlement came a few days earlier. „We are pleased to put this case behind us and look forward to continuing to focus on our customers and democratize finance for all,“ the company said in a statement through communications manager Jacqueline Ramsay. Nguyen spent three years as Senior Counsel at Wells Fargo & Co. in San Francisco, after beginning his legal career as a partner at Morrison & Foerster in Washington. He joined Robinhood in 2018 and later served as president of the company`s cryptocurrency business, where he assumed the role of general counsel and chief compliance officer this year following the departure of Benjamin Melnicki. Learn more about the latest trends in the legal industry in Lexis At Robinhood, being Chief Legal Officer is sort of the same thing. There`s just this incredibly regular diet of things to manage.

It could be the January 28 issue. This could be skills analysis. There are so many things that attract us. The company`s S-1, filed Thursday, offered a glimpse into the problems its legal department has faced and the OCOL`s cumbersome compensation package. In an interview with Protocol, Gallagher talked about this potential new challenge for Robinhood, how his experience at the SEC will help him in his role, and how his team plans to handle the upcoming litigation. Christina brings valuable experience, having held leadership positions as a management consultant at leading technology companies. At Yahoo, she was Vice President and Assistant General Counsel, and most recently, Christina was Vice President of Corporate Legal Affairs and Corporate Secretary at Applied Materials. She began her career at Latham & Watkins and holds a B.A.

in International Relations from Stanford University and a J.D. from the University of California, Los Angeles School of Law. Dan Gallagher, Robinhood`s General Counsel, joined the company in the spring of 2020, just as the COVID crisis was giving online brokerage an unexpected boost. Sky Mavis said in the tweet that Mr Nguyen will help design and implement his strategies around the new legal issues of Web3, the idea of a decentralized internet using blockchain and other technologies. In her new role, Christina will oversee and grow our Corporate Legal Group as well as Legal`s product, commercial and privacy teams as we continue to grow Robinhood. Working with the Robinhood teams, she will help us continue to develop incredible financial products and deliver a seamless customer experience that will enable more people to participate thoughtfully in the capital markets. Christina will also serve as Robinhood`s Corporate Secretary, where she will support the expansion of our Board of Directors and continue to improve the Company`s governance and disclosure policies and practices. Nguyen, who will lead the Vietnamese company`s legal and regulatory affairs, was most recently general counsel and chief compliance officer for Robinhood`s cryptocurrency unit. Robinhood, which cut 23 percent of its workforce in August, declined to discuss Nguyen`s departure or replacement. Companies that want to survive need to balance increased use of data with privacy and ethics best practices, says Blake Brannon, director of product and strategy at OneTrust. Let`s move on to the other side of the question: Are there any examples of companies that had productive and constructive relationships with the SEC when you were there that you think are an example for you? They joined Robinhood when the pandemic intensified.

It was also around this time that retail investment gained momentum, leading to the January 28 controversy. How do you look at the factors that led to this – social media, the pandemic, the pivot to remote work? Trung Nguyen, a programmer turned chief executive and co-founder of Sky Mavis, said in a statement that the company`s new lead lawyer would be a „critical asset“ because of his experience in the cryptocurrency and blockchain space. The Wall Street Journal`s news department was not involved in the creation of this content. Unlock these benefits today when you sign up for a 7-day FREE trial: Nguyen, who is fluent in Vietnamese, was a „longtime leader of the Robinhood team responsible for building, developing and growing the cryptocurrency business and its products,“ Sky Mavis said in a statement Thursday. What do you think of Gensler`s time as SEC chairman so far? Some feel that the Agency is too cumbersome. I think, frankly, it`s a distraction on people`s part not to leave a good crisis unused. It is January 28. We realize, „Oh man, there was no collusion between retail companies like Robinhood and hedge funds. So let`s move on here.

Here`s what the brakes say: „What do we always want to look at? Pay for order flow and let`s add gamification. It is a non sequitur to say that it is related to January 28. I just don`t agree with that. Gallagher testified as an SEC commissioner at his confirmation hearing in 2011. Photograph: Andrew Harrer/Bloomberg via Getty Images You know, as a curator, it`s a crazy job.