Approval of Proposed Rule Change to Increase the Trading Activity Fee Rate for Transactions

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The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority’s proposal to amend Section 1 of Schedule A to the FINRA By-Laws to adjust the rate of FINRA’s Trading Activity Fee (TAF) for transactions in covered equity securities. Effective March 1, 2012, the TAF rate for sales of covered equity securities will increase from $0.000090 per share to $0.000095 per share. The per-transaction cap for covered equity securities will increase by $0.25, from $4.50 to $4.75. The new rate applies to any sale of a covered equity security subject to the TAF occurring on or after March 1, 2012. Please note that the rules governing the TAF also include a list of exempt transactions.

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Published In: Administrative Agency Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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