On March 25, the Securities and Exchange Commission proposed amendments to Rule 15b9-1 under the Securities Exchange Act of 1934 to require broker-dealers that engage in off-exchange proprietary trading to become members of a registered national securities association such as FINRA (the Corporate & Financial Weekly Digest article describing this proposal is available here). On May 4, the Financial Industry Regulatory Authority released Regulatory Notice 15-13 to request comment on a proposal that would exempt proprietary trading firms, that would be required to become FINRA members under the SEC’s proposed amendments, from FINRA’s Trading Activity Fee ( TAF).
Continue Reading FINRA Proposes Exemption From the TAF for Proprietary Trading Firms