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FINRA fines Robinhood $1.25M over best execution reviews
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FINRA fines Robinhood $1.25M over best execution reviews
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FINRA fines Robinhood $1.25M over best execution reviews
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Trade Publication Article
FINRA fines Robinhood $1.25M over best execution reviews
2019
Overview
For a one-year period ending in 2017, the commission-free online brokerage failed to “reasonably consider” factors including price improvement for clients when considering broker-dealers to execute its client trades, according to FINRA. \"There are clearly a number of ways to generate revenues from a retail broker perspective that includes revenue on cash and on securities lending and on payment for order flow. “Over the last two years, we have significantly improved our execution monitoring tools and processes relating to best execution, and we have established relationships with additional market makers,” according to the Robinhood spokesman. Since 2017, the firm has taken measures to enhance its best execution policies, according to a corrective action statement provided by the firm.
Publisher
SourceMedia dba Arizent
Subject
