Regulatory Notice 15-13

FINRA Requests Comment on Proposed Exemption to the Trading Activity Fee for Proprietary Trading Firms

Comment Period Expires: June 19, 2015

Executive Summary

On March 25, 2015, the Securities and Exchange Commission (SEC) proposed amendments to Rule 15b9-1 under the Securities Exchange Act of 1934 (SEA or Exchange Act), which currently provides many proprietary trading firms with an exemption from membership in a national securities association. If adopted, the amendments generally would require a proprietary trading firm relying on the current exemption to register with FINRA if the firm continues to engage in over-the-counter trading or trading on an exchange of which it is not a member. FINRA membership would, among other things, subject these firms to the existing FINRA fee structure, including the TAF. This Notice requests comment on a proposed exemption to exclude from the TAF transactions by a proprietary trading firm on exchanges of which the firm is a member. The proposed rule text is attached as Attachment A.

Questions concerning this Notice should be directed to:

  • Shelly Bohlin, Vice President, Market Regulation, at (240) 386-5029;
  • Carrie DiValerio, Vice President, Finance, at (240) 386-5299; or
  • Brant Brown, Associate General Counsel, Office of General Counsel, at (202) 728-6927.
The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments: 
DateCommenterFormat - Size
6/18/2015FIAPDF - 139.56 KB
6/19/2015STAPDF - 825.84 KB
6/19/2015Hudson River Trading LLCPDF - 62.08 KB
6/20/2015SIFMAPDF - 220.66 KB