FINRA Proposes Waiving Fees for Certain Transactions Affected by TRACE Systems Issue

FINRA filed a rule change that would waive Trade Reporting and Compliance Engine ("TRACE") fees assessed initially for member firms as the result of the required re-reporting of certain transactions executed between February 16 and February 17, 2017. The transactions were not disseminated properly due to an inadvertent TRACE systems issue. The proposed change would waive the incurred fees in order to prevent members from being overcharged due to this technical complication.

The proposed rule change was filed for immediate effectiveness.