June 5, 2021
The fine being issued to Robinhood of 65 million dollars is shockingly low. This company has profited billions in the 4 years it has taken for this fine to be issued, and continued to make billions since then. If the fines continue to be significantly lower than the profit from the crimes committed will institutions ever stop committing crime? I'll answer that for you, no, they won't. The punishment needs to fit the crime and people need to go to prison as well as pay a much larger fine. Payment-for-order-flow should be banned as we have learned from the Madoff Ponzi Scheme and yet it continues to be abused. This is not a fair market for retail investors.