FINRA’s Markup Proposal
Published on:
March 15, 2013
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on FINRA’s proposal regarding markups, commissions and fees, FINRA Regulatory Notice 13-07.
Although SIFMA appreciates the decision to withdraw the proposed retail equity commission schedule requirement, it remains concerned that the proposed service fee schedule for retail investors presents unnecessary burdens and application difficulties while offering very little new information not already available to retail customers. In addition, SIFMA shares concerns that the introduction of certain new terms and requirements risks confusion and requests that FINRA either confirm SIFMA’s understanding of their operation or amend them accordingly.