Webull Corp has issued a statement regarding a report released by the U.S. House Select Committee, emphasizing its commitment to customer data protection and challenging the committee's conclusions. This response follows the committee's inquiry into the company's practices, which has raised concerns about the security of customer information and assets.

On October 9, 2026, Webull stated that it fully supports the mission of the House Select Committee and its recommendations for improving U.S. financial regulatory frameworks. However, the company criticized the committee's process, claiming it drew sweeping conclusions based on an incomplete record and important inaccuracies.

Webull's statement highlights that it cooperated fully with the committee during its inquiry, which began in late 2024. The company noted that after two months of engagement, the committee went silent for approximately 20 months, during which no follow-up questions were asked, nor were any interviews conducted with Webull's management or compliance teams.

In its defense, Webull pointed out that much of the information presented in the committee's report is already disclosed in its SEC filings. The company asserted that customer data is securely stored in the United States, with access controlled by U.S.-based supervisors, and that no instances of misuse or improper access to customer data have been reported.

Webull also emphasized that customer assets are held in the United States, in compliance with federal regulations, and that the company is regulated by the SEC and FINRA. The statement concluded by reaffirming that Webull's operations remain unchanged and that customer information and assets are protected.

This development is significant for Webull and the broader industry of security brokers, dealers, and flotation companies, as it underscores the ongoing regulatory scrutiny faced by firms in this sector. As the industry evolves, other companies may also need to navigate similar challenges regarding customer data protection and compliance with regulatory standards.

The filing does not say what happens next.