[mbesto]

> In other words, PFOF is bad because Madoff fought for it and it was controversial? That's still guilt by association, and a terrible argument.

I guess the statement "At the time, payment for order flow was highly controversial, and opposition was intense." doesn't mean the same thing to you as it does to me. In other words it didn't say it was controversial because it was Madoff, it was controversial because of the nature of incentives. If you're not going to read the article or understanding why PFOF is controversial (sans Maddoff or Warren's involvement) then it's not worth discussing anything here. Thanks.

> Because they're already obligated by law to provide best execution. They're also obligated to provide reports on the quality of execution.

You mean the same law that...you guessed it Robinhood violated?!

https://www.sec.gov/news/press-release/2020-321