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Printer-Friendly Adjustment to FINRA Trading Activity Fee Initial Rates

On Friday, September 27th, 2002, FINRA announced the initial rate structure for Section 2(b) [Trading Activity Fee] effective October 1, 2002 pursuant to the provisions of Schedule A, Section 2 [Member Regulation Fees] to FINRA's By-Laws. Based on further analysis of trading volumes, the rate structure has been adjusted to incorporate a per trade maximum, retroactively effective to October 1, 2002 as follows:

• Each member shall pay to FINRA $0.0001 per share for each sale of a covered security, with a maximum charge of $10 per trade.
• Each member shall pay to FINRA $0.002 per contract for each sale of an option.
• Each member shall pay to FINRA $0.08 for each round turn transaction of a security future.

Additionally, if the execution price for a covered equity security is less than the Trading Activity Fee rate ($0.0001) on a per share basis then no fee will be assessed.

Due to these adjustments, firms may have an additional 10 business days to self-report and remit payment for the October 2002 period, due no later than November 29th.

For background information on the Trading Activity Fee, please refer to Notice to Members 02-41 and Special Notice to Members 02-63. Additionally, please refer to the September 27th announcement regarding FINRA Trading Activity Fee Initial Rates.

Questions concerning this notification should be directed to FINRA Finance, at (240) 386-5397, or FINRA Regulatory Policy and Oversight, Office of General Counsel, at (202) 728-8071.