The SEC announced it would review payment for order flow in 2022, and FINRA issued guidance in July 2021 on both the duty of best execution and payment for order flow. Payment for order flow and best ...

“They’ll want information how each dark pool operates. Meaning-they’ll want to know the profile of the flow they could potentially be interacting with,” Morgan told STM. “They’ll need to know if high ...

SEC Staff Risk Alert Criticizes Broker-Dealer Reports on Best Execution and Payment for Order Flow. David Adams, Christopher Grobbel, Peter LaVigne, Nicholas Losurdo, Lauren Schwartz.

When looking at Reg Best Execution, "you are struck by the compliance obligation that they're [the SEC is] putting on financial firms that are using payment for order flow," Kaissar says. See the ...

In 2020, payment for order flow revenue for the top four brokerage firms — TD Ameritrade, Robinhood, E*trade and Charles Schwab — nearly tripled, jumping from $892 million to nearly $2.5 ...