Robinhood pays $65 million to settle SEC probe over misleading communications with customers

RobinhoodRobinhood agreed to pay $65 million to settle with the Securities and Exchange Commission over charges that the brokerage misled clients on its revenue from trades and the quality of its service.The SEC alleged Robinhood made "misleading statements and omissions" about how it made money with market-makers. Robinhood, like other brokerages, sells its orders to high-speed trading firms for execution.While Robinhood marketed its trades as commission-free and matching or exceeding its peers