The core of the issue seems to be disclosure of details on order flow sales. It sounds like the $10M fine they face isn't going to be a big issue, in the worst case.
Is that basically like paying for dibs on the buy and sell offers to a batch before the next price move? Or am i totally off? i always associated that with HFT as well.?
Apparently, full disclosure when accounts are opened, and periodic reminders. All in the fine print and junk mail which nobody reads. Apparently, it is written into code. Other brokerages presumably comply. Robin Hood does not. Ever been to a restaurant, where in the bathroom, there's a sign that says "employees must wash hands"? The guy who owns that place doesn't need a sign. He needs new employees.
