FINRA Requests Comment on Proposal to Implement an Accounting Support Fee

FINRA RN 11-28

June 16, 2011

FINRA published a request for comment on a proposal to amend Schedule A of its By-Laws to implement an "Accounting Support Fee" to fund the Governmental Accounting Standards Board. The proposal is in response to Section 978 of Dodd-Frank, which amended Section 19(g) of the Securities Act to give the SEC the authority to require national securities associations to establish an accounting support fee to fund the GASB. Comments on the proposal are due by August 1, 2011.

Cross References

Dodd-Frank § 978

Securities Act § 19(g)