Regulatory Outlook | 10.06.20
FINRA Moves Ahead on BD Fee Hike
FINRA plans to increase some fees it charges broker-dealers to cope with the onslaught of new regulatory responsibilities, which include Regulation Best Interest, the Consolidated Audit Trail, and new financial products. FINRA has filed the proposed rule change to take effect immediately; however, implementation will not begin until Jan. 1, 2022. The fee hikes will impact five areas: the Gross Income Assessment, Trading Activity Fee, Personnel Assessment, registration, and qualification examination.
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