WASHINGTON (Reuters) – Popular online brokerage Robinhood has agreed to pay a $65 million fine to settle U.S. Securities and Exchange Commission charges that it misled customers.
The SEC claimed in a statement that the company failed to inform customers about payments it received from trading firms to route customer orders through them, a move that resulted in customers paying higher prices to execute trades. The company neither admitted or denied guilt while paying the penalty.
(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)
