Robinhood is being investigated by the Securities and Exchange Commission—Here's why

Popular trading platform Robinhood is under investigation related to its disclosures around selling clients' orders to high-frequency traders, the Wall Street Journal reported Wednesday. The Securities and Exchange Commission's probe into the Silicon Valley start-up is at an advanced stage and could result in a fine of more than $10 million if the company agrees to settle, the Journal reported, citing people familiar with the matter. Former SEC chair Harvey Pitt explains.