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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").
within Intellectual Property, International Law, Food, Drugs, Healthcare and Life Sciences topic(s)
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.
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