FINRA proposed updating the method for calculating trade reporting fees under FINRA Rule 7620B for broker-dealers using the FINRA/NYSE Trade Reporting Facility (the "FINRA/NYSE TRF"). Under the revised fee structure, monthly fees for use of the FINRA/NYSE TRF will be based on the volume of OTC trades that a broker-dealer reports to the FINRA/NYSE TRF - not, as it is currently, on the broker-dealer's total OTC trading activity (that is not limited to OTC trades reported to the FINRA/NYSE TRF). In addition, the revised fee structure will increase the number of fee tiers from four to nine to reflect more closely a broker-dealer's use of the FINRA/NYSE TRF in any given month.
The proposal was made effective upon filing the amendment with the SEC.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
