The fine wasn’t for the practice, it’s not illegal everyone does it. It’s for not disclosing it to their users. And they do now, this is for the time period 2015 to 2018!
Robinhood's investment area first bought let's say 1M stocks of X company with 10 cents lower than market value from its own customers and then sells them again for 10 cents more to their own customers. That's 200k.
No company does business in true faith, but they get such attention only when they are growing too fast which is good sign in first place.
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It was well known that Robinhood was trimming pennies on orders, neither how will sustain their business.
No company does business in true faith, but they get such attention only when they are growing too fast which is good sign in first place.