The SEC approved FINRA's plan to abolish the $25,000 pattern day trader rule, replacing it with intraday margin standards.

The SEC is ending its dotcom crash-era day trading rule, a move that sent Robinhood and Webull shares sharply higher.

Violating the pattern day trading rule can be a costly mistake for active investors. For the uninitiated, it can result in trading restrictions or a locked account. And when that happens, any holdings ...