Regulatory Notice 13-17

2013 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board

Executive Summary

In February 2012, pursuant to an SEC order, FINRA established an accounting support fee (GASB Accounting Support Fee) to adequately fund the annual budget of the Governmental Accounting Standards Board (GASB). The GASB Accounting Support Fee is collected on a quarterly basis from member firms that report trades to the Municipal Securities Rulemaking Board (MSRB). Each member firm’s assessment is based on the member firm’s portion of the total par value of municipal securities transactions reported by all FINRA member firms to the MSRB during the previous quarter. FINRA will assess and collect a total of $7,390,400 to adequately fund the GASB’s annual budget by collecting $1,847,600 from its member firms each calendar quarter beginning in April 2013.

 

Questions concerning this Notice should be directed to:

 

  • Finance Department at (240) 386-5313; or
  • Office of General Counsel at (202) 728-8071.