TITLE

SEC Approves NASD-Proposed Fee on Trades

AUTHOR(S)
Hume, Lynn
PUB. DATE
October 2004
SOURCE
Bond Buyer;10/13/2004, Vol. 350 Issue 31988, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article highlights that the U.S. Securities and Exchange Commission (SEC) has approved a controversial fee on trades of municipal securities and other debt that was proposed by the National Association of Securities Dealers (NASD) late last year. Vice president of TBMA Marjorie Gross says that the SEC has approved the application of NASD to impose a trading activity fee (TAF) on bonds. While the association agrees that the bond industry must pay the cost of appropriate regulation of bond brokers and dealers, it objects to the approval of the TAF on the grounds that the application did not contain enough supporting information to justify the imposition of the new fee on top of other fees already imposed on its' members.
ACCESSION #
14718383

 

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