Regulatory Notice 12-31

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

Effective Date: July 1, 2012

Effective July 1, 2012, the Trading Activity Fee (TAF) rate for sales of covered equity securities will increase from $0.000095 per share for each sale of a covered equity security to $0.000119 per share, with a corresponding increase to the per-transaction cap for covered equity securities from $4.75 to $5.95. The new rate applies to any sale of a covered equity security subject to the  TAF occurring on or after July 1, 2012.

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.