Today, American securities watchdog the SEC announced that Robinhood, a free-to-trade broker that has grown rapidly in recent years, has paid a $65 million fine to settle charges relating to some of its historical business practices. The actions at issue occured between 2015 and 2018, with the SEC alleging that the company “made misleading statements and omissions in customer communications” about how it generated “its largest revenue source” – specifically, payment for order flow. The SEC also said that the well-funded unicorn “falsely claimed in a website FAQ between October 2018…
