Allianz chief economic adviser Mohamed El-Erian argues apps like Robinhood are reducing the barriers to retail entry. He also provides insight into the coronavirus pandemic, initial jobless claims, earnings and how to allocate capital in the current market environment.
The SEC has charged Robinhood with misleading investors on how it made money and also for failing to get the best price for customer orders.
The popular online trading firm has agreed to pay $65 million, while neither admitting nor denying wrongdoing. Robinhood provided misleading information to customers about the true costs of choosing to trade with the firm,” said Stephanie Avakian, director of the SEC’s Enforcement Division. “Brokerage firms cannot mislead customers about order execution quality.