Robinhood Markets Inc (NASDAQ: HOOD) shares are trading lower after U.S. Securities and Exchange Commission chair Gary Gensler outlined proposed changes that could impact brokerage businesses.
Instead of continuing to allow payment for order flow, Gensler suggested an alternative involving “open and transparent auctions,” Wednesday at Piper Sandler’s “Global Exchange & Brokerage Conference.”
“I’ve asked staff to make recommendations …
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