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Financial Industry Regulatory Authority (FINRA) Offers Changes to Proposed Rules Governing Markups, Commissions and Fees

In February 2011, the Financial Industry Regulatory Authority initially sought comment on proposed rules governing markups, commissions and fees. The initial proposal sought to eliminate the 5% rule for markups and markdowns. In response to the comments received, FINRA has offered several changes to the proposed rules. Among other things, the changes include retention of the 5% rule for markups and markdowns, modification of the relevant factors used to determine the reasonableness of markups and commissions, elimination of the requirement to provide commission schedules for equity securities transactions to retail customers and extension of the proposed markup rules to transactions in certain government securities. FINRA requests comment on the revised proposal. Comments must be received by April 1, 2013.

Click here for the FINRA notice.

©2022 Katten Muchin Rosenman LLPNational Law Review, Volume III, Number 48
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