Regulatory Notice 11-27

SEC Approves Increase in the TAF Rate for Sales of Covered Equity Securities

Effective Date: July 1, 2011

Effective July 1, 2011, the Trading Activity Fee (TAF) rate for sales of covered equity securities will increase from $0.000075 per share for each sale of a covered equity security to $0.000090 per share, with a corresponding increase to the per-transaction cap for covered equity securities from $3.75 to $4.50. The new rate will apply to any sale of a covered equity security subject to the TAF occurring on or after July 1, 2011.

The text of the new rule is available in the online FINRA Manual.

Questions concerning this Notice should be directed to:

  • FINRA Finance, at (240) 386-5397; or
  • The Office of General Counsel, at (202) 728-8071