The SEC approved a Trading Activity Fee rate change, for sales of covered equity securities.  Effective 7/1/11, the fee will increase from $0.000075 per share to $0.000090 for each sale of a covered equity security, with a corresponding increase to the per-transaction cap for covered equity securities from $3.75 to $4.50. 

Background & Discussion.   The Trading Activity Fee (TAF) is one of 3 fees used to fund FINRA’s regulatory activities, including:  (i) examinations; (ii) financial monitoring; and, (iii) FINRA’s policymaking, rulemaking and enforcement activities.  As a result of the recent decrease in trading volumes in the equity markets, an increase in the TAF rate is now necessary to ensure that FINRA can continue to maintain a robust regulatory program and meet its regulatory obligations effectively, while attempting to remain revenue neutral.

Accordingly, to stabilize revenue flows necessary to support its regulatory mission, FINRA recommended to the SEC, and the SEC approved, an increase to the TAF rate - as stated above. 

FINRA Staff Contacts.   Direct your questions to:  FINRA Finance - 240.386-5397;  or Office of General Counsel - 202.728-8071.

For further details, go to:   [FINRA RegNote 11-27, June 2011]