June 5, 2021
The amount you are setting of 65 million is a slap on the wrist and insultingly low. This is embarrassing that you apparently can not or will not hold these companies truly responsible. Robinhood has profited much much more than 65 million from PFoF in the time period covered. In-fact, Robinhood made 91 million from PFoF in Q1 2020 alone and now 331 million in Q1 2021. This is an obvious conflict of interests when a brokerage is profiting by letting entities pay to trade ahead of their own clients. I sincerely hope you reconsider and severely increase the penalty amount. Currently your penalties are equivalent to stealing 500 million and getting nothing more than a fine of 25 million close to 6 years later.