FINRA forced to hike fees due to ‘significant loss’

According to InvestmentNews, FINRA plans to increase a number of user fees it charges broker-dealers by up to 50% to help cover a significant loss from last year.  In reference to the new fees, FINRA CEO, Richard Ketchum, stated “the broader economic downturn continues to affect trading volumes and industry revenues, which in turn has led to a decrease in FINRA’s revenues and resulted in a significant loss for fiscal year 2011.”  Specifically, the fee hikes will be attributed to advertising reviews, corporate financing and new member applications, as well as a proposed 25% increase in the trading activity fee.

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