June 5, 2021
I appreciate the action taken against Robinhood here. They have, for years, been profiting off the theft of retail investment, and continue to do so today.
However, this fine is a drop in the bucket compared to how much they have profited from this PFOF activity. This won't give them any incentive to stop this activity. Until the fine outweighs the profits, these financial institutions/brokers/banks/etc will continue to steal from the American people looking to create wealth for themselves. When they frame themselves as the tool for the people to create wealth, and then steal from them, it shatters any trust that the people hold for these institutions.
Please reconsider the small fine, and actually punish the bad actors who are profiting off the backs of the American people. Please fine them at least the same amount as the profits taken from this activity, and return it to their customers. This is the only fair punishment.
thank you.