Financial Industry Regulatory Authority (FINRA) has reportedly opened an inquiry into trading ahead of reports of a shelved takeover approach for Douglas Elliman Inc. (NYSE:DOUG) and asked the brokerage to identify who knew about Anywhere Real Estate Inc.’s (NYSE:HOUS) bid before it became public in late May.
Reuters reports that the watchdog also requested a timeline, board minutes, and pre-clearance records as part of a routine review that does not itself allege violations, citing screenshots of the two letters that Reuters observed.
