Posts tagged Best Execution.

FINRA issued a targeted-exam letter on February 20, 2020 seeking information on the effect of zero-commission trading upon compliance with related obligations of Best Execution, payment for order flow, and non-commission account fees.  The Exam Letter is here.

The zero-commission tide rose quickly throughout 2019, together with some industry consolidation as well.  Among those announcing no commissions:

  • Ally Invest, the investment affiliate of online Ally Bank;
  • E-Trade, to be acquired by Morgan Stanley, announced February 20, here.
  • Fidelity
  • Interactive Brokers
  • Robinhood
Posted in: FINRA
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