MSRB Adjusts Underwriting, Registration and Transaction Fees (MSRB Notice 2015-13)

MSRB filed changes with the SEC to MSRB Rules A-12 on registration and to A-13 on underwriting and transaction assessments. The MSRB stated that a decrease in the underwriting fee under Rule A-13, coupled with the increase to the initial and annual fees under Rule A-12, effectively will maintain the total fee revenue at approximately the current level.

The rule change is effective immediately. The implementation date for the amendments to Rule A-12 (on initial and annual registration fees) is October 1, 2015. The implementation date for the amendments to Rule A-13 (on the underwriting fee and transaction fee) is January 1, 2016.

See: MSRB Regulatory Notice 2015-13.Related news: MSRB Publishes Guidance on Its New Registration Requirements Rule (Notice 2014-10) (May 12, 2014); Approval of Amendments to Rule A-13 to Increase Transaction Assessments (January 4, 2011).