SEC Approves Increase in the TAF Rate for Sales of Covered Equity Securities (FINRA Regulatory Notice)

FINRA Reg. Notice 12-31

Effective July 1, 2012, the Trading Activity Fee (TAF) rate for sales of covered equity securities will increase from $0.000095 per share for each sale of a covered equity security to $0.000119 per share, with a corresponding increase to the per-transaction cap for covered equity securities from $4.75 to $5.95. The new rate applies to any sale of a covered equity security subject to the TAF occurring on or after July 1, 2012.

Cross References: SEC Release No. 34-67242 (June 22, 2012) (Approval of Rule Change; File No. SR-FINRA-2012-023); FINRA By-Laws, Schedule A, 1(a); FINRA Regulatory Notices 10-56 and 12-06.