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.” The Silicon Valley start-up, which has eventual plans to go public, has raised more than $1 billion in funding in 2020, lifting Robinhood’s valuation to $11.7 billion.”Between 2015 and late 2018, Robinhood made misleading statements and omissions in customer communications, including in FAQ pages on its website, …
