Link to the story: https://www.reuters.com/markets/us/wall-street-regulator-spell-out-push-overhaul-stock-trading-sources-2022-06-08/

After the GME/AMC run last year the SEC has decided to overhaul PFOF. This is how companies like RobinHood, TDAmeritrade and Etrade are able to offer commission free trading. In a nutshell, they intend to shut it down.

Out of one corner of their mouth they are claiming it is for our own good, that our orders are not being fulfilled at the best price because they are able to go to wholesale brokers directly rather than putting them up for auction. This allows them to make a fractional cent of money off each trade, which adds up enough to allow them to offer commission free trading.

Out of the other corner of their mouth I am hearing that this could put commission free trading out of reach, shutting down the entire business model that allow it to exist. This would drastically tamp down on retail’s ability to trade so much, which could make the markets less volatile.

Really not sure how to interpret it so I ask some of you all who know better what the true intentions are. My interpretation is that it is intended to shut us down to prevent something like GME from ever happening again. And “unintentionally” keeps the status quo on wall street so us filthy plebs stop mucking it all up for the upper crust. For the good of all of us.