> Robinhood agreed to pay $65 million to settle the charges. ... Without admitting or denying the SEC’s findings, Robinhood agreed to a cease-and-desist order prohibiting it from violating the antifraud provisions of the Securities Act of 1933 and the recordkeeping provisions of the Securities Exchange Act of 1934, censuring it, and requiring it to pay a $65 million civil penalty.

A slight quibble, Robinhood and the SEC settled. There was no fines issued.

I do think that the threat of being sent to jail would be a much better deterrent than the threat of losing 2x the money gained by doing something illegal.

Get that law passed, bearing in mind that half the country is represented by a political party that is opposed in principle to financial regulations of almost any sort.

Agreed. Same as 2008 crash. The executives that made these decisions are most likely ending up ahead on their fat salaries. We’ve got to hold decision makers accountable.