![]() ![]() It will also ask the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for customers to switch banks, the source said. Sources didi keep linkdoc us update#competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals. My brilliant colleagues in Washington also scooped that President Joe Biden's planned executive order to promote greater U.S. LinkDoc's decision to suspend its $211 million IPO is likely to be followed by others. That was soon followed with an order for Didi's app be removed from app stores.īeijing also said on Tuesday it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks. It is the first Chinese firm known to have pulled back from IPO plans since China's cybersecurity regulator toughened its approach to oversight last week with an investigation into ride-hailing giant Didi Global just two days after its New York debut. The company made the change to "maintain the incentives" of the stock award program, the filing states.Įlsewhere, Reuters was first to report that Chinese medical data group LinkDoc Technology has shelved plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms. The change could cost Robinhood roughly $569.1 million in accounting expenses over time, according to the filing and one of the compensation experts. Robinhood tweaked the terms of the stock awards in late May so the founders will get a second chance to receive the shares if the IPO price does not meet the thresholds under the plan, according to the filing and the executive compensation experts. ![]() The company had agreed to award CEO Vladimir Tenev and chief creative officer Baiju Bhatt 13.8 million shares contingent on its share price reaching certain price levels at the time of its initial public offering (IPO), the executive compensation experts who analyzed the filing told Reuters in interviews. ![]() Prior to the float, there had been some reports that an antitrust probe could be among the risks associated with the offering and those concerns were described at the time by the company as "unsubstantiated speculation from unnamed sources".This week, Reuters scooped that Robinhood Markets is giving its billionaire founders four more years to hit share price targets that trigger stock awards worth $1.4 billion, according to a regulatory filing and four executive compensation experts who reviewed it. The Chinese government this weekend said that group had committed serious violations related to the collection and use of personal data, and, ordered its apps be removed from app stores in the country. Ride-hailer Didi has been under fire in the market since a Chinese authorities clampdown which saw its app banned in the immediate aftermath of its US$4.4bn IPO and US markets debut.ĭiDi shares plummeted this week after the censure. The Chinese medical data group has been working on a float, with intentions to raise US$211mln, but according to a Reuters report the IPO has been shelved. LinkDoc Technology has reportedly whipped away its plans to IPO in the United States in the wake of the DiDi calamity which continues to come under scrutiny in both the East and West. ![]()
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