Regulatory Notice 08-37

FINRA Reminds Firms that the Trading Activity Fee Is Assessed on Exchange-Listed Options Transactions when FINRA Is the DOEA

Background & Discussion

FINRA is required to assess a Trading Activity Fee (TAF) on all member firms for the sale of covered securities pursuant to Section 1 of Schedule A to the FINRA By-Laws. The TAF, along with other revenue components, funds FINRA's member regulatory activities. FINRA assesses the TAF on its member firms through clearing and self-clearing firms.

 

As a result of the consolidation of NASD and NYSE member regulation operations in 2007, FINRA has assumed DOEA responsibilities for those firms that were previously assigned to the NYSE. Consequently, FINRA currently serves as DOEA for all FINRA member firms and the list published in NTM 05-03 is no longer accurate. An updated list of all FINRA member firms can be found at www.finra.org/memberfirms.