FINRA Issues Notice Regarding 2014 GASB Accounting Support Fee (FINRA Regulatory Notice 14-17)

FINRA issued a regulatory notice indicating that it will assess and collect a total of $6 million to adequately fund the Governmental Accounting Standards Board's ("GASB") annual budget by collecting $1,539,775 from its member firms on each calendar quarter beginning in April 2014.

In February 2012, FINRA established (see FINRA Regulatory Notice 12-15) an accounting support fee to adequately fund the annual budget of the GASB. The GASB Accounting Support Fee is collected on a quarterly basis from its member firms that report trades to the MSRB. Each member firm's assessment is based on the member firm's portion of the total par value of municipal securities transactions reported by all FINRA member firms to the MSRB during the previous quarter.

See: FINRA Reg. Notice 14-17.