FINRA Reports GASB Accounting Support Fee for 2022

FINRA reported that the Government Accounting Support Standards Board ("GASB") Accounting Support fee for 2022 will be $12,508,400.

In Regulatory Notice 22-07, FINRA stated that the fee, to be collected in quarterly installments starting April 2022, funds the GASB pursuant to FINRA By-Laws, Schedule A, Section 14 ("Accounting Support Fee for Governmental Accounting Standards Board").

The GASB Accounting Support Fee is based on member’s portions of the total par value of municipal securities transactions reported to the MSRB by all firms. FINRA estimated that the GASB Accounting Fee for 2022 will be between $0.0037 and $0.0049 per $1,000 par value. FINRA reminded firms that should they choose to pass along the fee to customers, the firms must properly disclose the fees and state in the disclosure that the fee is an estimate.