A broker-dealer settled charges with FINRA for causing customers to overpay in excess sales charges and fees on their accounts.
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The SEC set a comment deadline of January 5, 2024 for a proposed rule that would prohibit national securities exchanges from offering volume-based transaction pricing. The comment deadline was published in the Federal Register.
FINRA amended its By-Laws to exempt certain transactions from the Trading Activity Fee. The exemptions apply to transactions conducted by a proprietary trading firm and that are effected on an exchange of which the firm is a member.
The SEC proposed a rule that would prohibit national securities exchanges from offering volume-based transaction pricing to broker-dealers executing agency or riskless principal orders in NMS stocks.
A broker-dealer/investment adviser settled charges with the SEC for violating recordkeeping requirements in connection with its recording of expenses incurred from the broker-dealer's underwriting activities.