The Citadel Securities Investigation
Kenneth Griffin's Citadel Securities processes approximately 40% of all U.S. retail equity order flow — and has spent more than $100 million on political donations to protect the regulatory environment that allows it to profit from every American retail investor's trade. The Ethics Reporter is the only news organization systematically covering this story.
Core Investigation
Take Action
Your orders are being sold without your knowledge.
When you use Robinhood, TD Ameritrade, E*Trade, or Schwab, your stock orders are routed to Citadel Securities through payment for order flow — without your explicit knowledge or consent. You have rights. Here is how to exercise them.
Broker-Specific Coverage
Kenneth Griffin's Political Recipients
Griffin has spent more than $100 million on political donations. The Ethics Reporter tracks each recipient and examines the relationship between Griffin's political investments and the absence of regulatory action on PFOF.