Robinhood fined by FINRA for violating best-execution trading laws - Business Insider

Financial Industry Regulatory AuthorityThe regulator found Robinhood routed non-directed stock orders to four broker-dealers that then paid it for the trades. The practice isn't illegal, but Robinhood's methods fell outside of the agency's guidelines.

Robinhood has since improved its best execution processes and "established relationships with additional market makers," a company spokesperson said.Robinhood, the buzzy startup that made a name for itself offering commission-free stock trading, received a fine from its regulator for violations around how it executed clients trades. committed by Robinhood from October 2016 to November 2017.

"Accordingly, hundreds of thousands of orders each month fell outside the firm's 'regular and rigorous' review process," FINRA wrote in aRobinhood quickly responded, noting that the "historic issue during the 2016-2017 timeframe" isn't a problem for its current users, and that the firm has since implemented a better way to match traders with best execution practices.

I knew it from the day RobinhoodApp screwed up my purchase 2 years ago. Shady Slim

I thought you meant the flour company 😖

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These are the best photos Business Insider took in 2019 - Business InsiderThe year in pictures: From iconic IPOs to the backstage of Carnegie Hall, these are the best photos from Business Insider in 2019
Source: BusinessInsider - 🏆 729. / 51 Read more »

Google is offering advice on FedNow - Business Insider Intelligence - Business InsiderGoogle's suggestions for the Fed could be effective, but they could also accelerate the threat big tech firms are posing to US payments and commerce:
Source: BusinessInsider - 🏆 729. / 51 Read more »

MetLife agrees to $10 million SEC fine to settle alleged accounting errors - Business InsiderMetLife assumed that annuitants 'had died or otherwise would never be found' if they didn't respond to mailed letters sent more than five years apart. What a joke of a fine. Insurance companies are one of the biggest scammers out there.
Source: BusinessInsider - 🏆 729. / 51 Read more »

How One Fruitcake Shop Became A Multi-Million Dollar BusinessThis fruitcake recipe launched a multi-million dollar business See how on Business Insider Today: FUCK YEAH LETS DO SOME SHOTS
Source: BusinessInsider - 🏆 729. / 51 Read more »

The best strategy for explaining any complicated topic to an audience - Business InsiderPhysicist Dominic Walliman writes children's books and creates YouTube videos that teach children mild-numbingly complex topics like quantum physics.
Source: BusinessInsider - 🏆 729. / 51 Read more »

LendingClub's Andrew Deringer joins Marlette Funding, the fintech behind Best Egg, as CCO - Business InsiderMarlette Funding, the fintech behind the Best Egg personal lender, just hired away rival LendingClub's head of institutional sales. Now, it's dusting off old plans to launch a credit card.
Source: BusinessInsider - 🏆 729. / 51 Read more »