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Robinhood launches SEC counterattack over payment for order flow

Robinhood execs said the SEC's proposals amounted to the regulator 'essentially shutting the door and saying we liked it better when it was the old boys’ club'

Robinhood Markets Inc., facing a dire threat from a regulatory plan to overhaul the handling of small investors’ trades, is mounting a counterattack.

The popular brokerage says a set of proposals from the Securities and Exchange Commission would turn back the clock to the days before zero-commission trading, when investors had to pay fees for buying and selling stocks.

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