to settle a probe from the Securities and Exchange Commission over misleading communications to its customers.
In short, from 2015 to late 2018 Robinhood didn't properly disclose it received payment for order flow . The SEC alleged the fintech also falsely claimed its execution quality was as good, or better, than competing brokers. Robinhood's prices were actually worse for customers, costing them a total of $34.1 million,