Regulatory Notice 12-15
SEC Approves Rule to Establish an Accounting Support Fee to Fund the Governmental Accounting Standards Board
Effective Date: February 23, 2012
Pursuant to an SEC order, FINRA has established an accounting support fee (GASB Accounting Support Fee) to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB). For 2012, FINRA will assess and collect a total of $8,451,300 for the GASB Accounting Support Fee by collecting $2,112,825 from its member firms each calendar quarter. The GASB Accounting Support Fee will be collected quarterly from member firms that report trades to the Municipal Securities Rulemaking Board (MSRB). Each member firm’s assessment will be based on the member firm’s portion of the total par value of municipal securities transactions reported by FINRA member firms to the MSRB during the previous quarter. FINRA will send the first invoices for the GASB Accounting Support Fee in April. The first invoice will be based on trading activity during the first quarter of 2012.
Questions concerning this Notice should be directed to:
|View Full Notice||PDF 130 KB|