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FINRA Explains GASB 2017 Accounting Support Fee

FINRA reminded member firms that it will assess and collect a total of $8,309,000 to fund the annual budget of the Governmental Accounting Standards Board ("GASB"). FINRA will collect $2,077,250 from its member firms each calendar quarter beginning in April 2017. Each member firm assessment is based on a portion of the total par value of the municipal securities transactions reported by all FINRA member firms to the MSRB during the previous quarter.

Primary Sources

  1. FINRA Regulatory Notice 17-10
  2. Section 14 of Schedule A to FINRA By-Laws
  3. FINRA Notice 13-17: GASB Accounting Support Fee

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Tags

Regulated Activities
Accounting and Audit Confirmations Disclosures Regulatory Fees Trading
Regulated Entities
Broker-Dealers
Regulated Products
Municipal Securities
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA