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

(CNBC) The Securities and Exchange Commission on Thursday charged Robinhood with deceiving customers about how the stock trading app makes money and failing to deliver the promised best execution of trades.

Robinhood agreed to pay a $65 million civil penalty, without admitting or denying SEC’s findings. A lawyer for the company said the practices “do not reflect Robinhood today.”

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