June 6, 2021
I am glad to see that the SEC is doing something about payment for order flow (PFOF) but these punishments are by no means going to change a thing. As long as the SEC continues to allow these type of things to happen for years before finally dealing the slap on the wrist, nothing will change. Either significantly increase the charges to hundreds of millions, put them out of business or even better just ban PFOF outright. Lastly, please don't make this strictly about Robinhood customers because in reality this is market manipulation and it literally affects ALL investors.