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Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, February 4, 2013

FINRA Seeks Comments on Proposed Rule on Markups and Commissions

FINRA Requests Comment on Proposed FINRA Rules Governing Markups, Commissions and Fees in Regulatory Notice 13-07.  This is part the process to develop a new, consolidated rulebook (the Consolidated FINRA Rulebook).

FINRA is proposing several changes to the proposed rules. These changes include, among other things, amendments to: (1) retain the 5% markup policy in NASD IM-2440-1 (Mark-Up Policy); (2) revise certain of the relevant factors used to determine the reasonableness of markups and commissions; (3) eliminate the requirement to provide commission schedules for equity securities transactions to retail customers; and (4) extend the proposed markup rules to transactions in certain government securities. 

The text of the proposed rules is here.  Deadline for comments is April 1, 2013.

http://lawprofessors.typepad.com/securities/2013/02/finra-seeks-comments-on-proposed-rule-on-markups-and-commissions.html

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