ARTICLE
23 March 2020

FINRA Assesses GASB Accounting Support Fee

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
FINRA notified members that it will assess and collect an accounting support fee of $10,022,000 to fund the current annual budget of the Governmental Accounting Standards Board.
United States Accounting and Audit

FINRA notified members that it will assess and collect an accounting support fee of $10,022,000 to fund the current annual budget of the Governmental Accounting Standards Board. Beginning in April 2020, the assessments will be collected quarterly ($2,505,500 per calendar quarter) from member firms that report trades to the MSRB.

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