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3 mins read
The SEC is trying to reshape the US stock market - but that could mean retail investors will have to start paying fees on trades again
SEC Chairman Gary Gensler is proposing changes in how trades by retail investors are handled. That …
Carla Mozée
2 mins read
US stock brokers made $3.8 billion selling customer orders amid the meme-stock craze, with Charles Schwab edging out Robinhood with the most PFOF gains
Last year's windfall from payment for order flow was a 33% gain from the year prior, Bloomberg Inte…
Natasha Dailey
2 mins read
Retail trading app Public says its delivering better pricing for customers since it abandoned payment for order flow — and has data to prove it
Public ended its use of payment for order flow in February this year. It argues that since doing so…
Natasha Dailey
1 min read
Ending payment for order flow would be a 'disservice' to retail traders, says former TD Ameritrade chief
Former TD Ameritrade CEO Joe Moglia told Bloomberg News the retail crowd gets everything for free o…
Natasha Dailey
2 mins read
GOP Senator Toomey introduces bill to protect payment for order flow practice crucial to brokers like Robinhood as SEC eyes ban
Toomey said he has yet to hear back from the SEC as to how payment for order flow is harming retail…
Matthew Fox
2 mins read
SEC chair nominee says he will evaluate payment for order flow practice at the heart of the GameStop saga
The nominee to be the next SEC head says he wants the agency to evaluate the practice, which came i…
Carla Mozée
1 min read
SEC chief flags risks of predictive AI in online brokers and robo advisors as agency weighs crackdown, report says
"The predictive-data analytics also raises a number of important challenges: conflicts of interest,…
Isabelle Lee
2 mins read
Citadel's Ken Griffin said he'd be 'quite fine' if payment-for-order-flow was banned and that his firm doesn't trade crypto because of regulatory uncertainty
The Citadel founder also praised Robinhood and other brokers for "democratizing finance in America."
Natasha Dailey
2 mins read
Ark Invest's Cathie Wood says Robinhood's payment-for-order flow is so good that she'd be surprised to see SEC scrutiny change it much
"The system has been so good from an execution point of view for the end investor," Wood said about…
Shalini Nagarajan
2 mins read
Retail investors got a rare chance to be heard on Robinhood's earnings call - and they wanted answers on everything from PFOF regulation to how to get branded merch
"Can we get a Robinhood hat and hoodie jacket?" asked one shareholder during Robinhood's second-qua…
Emily Graffeo
2 mins read
Retail investors are incurring billions in hidden costs using 'free' brokerages, study says
Free brokerages may cost retail investors billions - but it's not due to the controversial payment-…
Jennifer Sor
2 mins read
10 things before the opening bell
OPEC's Omicron fudge whipsaws oil, why the S&P 500's dip is buyable, and bitcoin bull vs. bear.
INSIDER
3 mins read
10 things before the opening bell
Ford stock surges, Apple and Amazon earnings weigh on US stocks, and El Salvador buys 420 bitcoins.
Phil Rosen
1 min read
Robinhood calls potential payment for order flow ban 'draconian' as it fires back at SEC's Gary Gensler
Robinhood derived about 80% of its revenue from payment for order flow transactions in the second q…
Matthew Fox
2 mins read
US stocks mixed as investors digest the impact of weak jobs report on Fed tapering
In focus is whether the worse-than-expected jobs report will affect the timing of the Federal Reser…
Emily Graffeo
2 mins read
Robinhood tumbles 7% after SEC's Gary Gensler says ban of payment for order flow 'is on the table'
Robinhood listed a potential ban of the payment for order flow practice as a risk to its business i…
Matthew Fox
2 mins read
'A singularity that captures Generation Z's zeitgeist': Here's what 3 Wall Street analysts are saying about Robinhood now that the online-brokerage king has gone public
"We see a highly engaged SEC that has fined and has continued to call out Robinhood specifically fo…
Matthew Fox
3 mins read
Robinhood gets paid for each trade on its platform. Regulators are skeptical of the practice, but what retail traders think is more complicated.
Many retail investors see payment for order flow as just another example of companies selling consu…
Ethan Wu,Emily Graffeo
1 min read
Robinhood extends 2-day gain to 126% as it becomes the most talked-about stock on Reddit's Wall Street Bets forum
Most of Robinhood's mentions on the forum were positive, with one user saying, "unpopular opinion: …
Matthew Fox
2 mins read
Payment for order flow models "undermine the relationship between the broker and their client," Duke Law professor tells Congress
Duke Law Professor Gina-Gail S. Fletcher told Congress that payment for order flow models "undermin…