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The move comes amid a retail trading boom that brought millions of new investors into the stock market, along with more regulatory scrutiny for some brokerage firms. As part of the expansion, the payment giant hired a brokerage industry veteran to lead “Invest at PayPal” — a previously unreported division of the payments giant.
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The Securities and Exchange Commission said last week it is stepping up its inquiry into “gamification” and how brokerages use technology to interact with their customers. The agency mentioned behavioral prompts used by online brokerages and investment advisors that may encourage investors to trade more stocks and other securities and take on more risks.
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