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> The order finds that Robinhood provided inferior trade prices that in aggregate deprived customers of $34.1 million even after taking into account the savings
by sonotmyname 6y ago
> The order finds that Robinhood provided inferior trade prices that in aggregate deprived customers of $34.1 million even after taking into account the savings from not paying a commission.
Sooooooo the fine is nearly 2x the cost to consumers due to malfeasance. That should cover your concern here.
- jellicle 6y agoNo, much more than $34M in misbehavior. Hurt customers by $34M over what they would have been charged if they had paid commissions. So Robinhood took money from its customers to this extent: all the cash as if its customers were paying commissions, and also $34M, and for that they're being fined $65M, which will probably be negotiated down to $2M or something like that.