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FINRA seeks comment on revised proposed rules on markups, commissions and fees

Feb 05 2013 Compliance Complete news team

The Financial Industry Regulatory Authority has issued Regulatory Notice 13-07 seeking comment on proposed rules governing markups, markdowns, commissions and fees. FINRA in February 2011 solicited comment on the proposals in Regulatory Notice 11-08 and the new notice reflects several of the changes made in considering the earlier comments, particularly on: retaining the 5 percent markup policy in NASD IM-2440-1; revising certain factors used to determine the reasonableness of markups and commissions; eliminating the requirement to provide retail customers with commission schedules for equity securities transactions; and extending the proposed markup rules to transactions in certain government securities. The deadline to comment on the new proposal is April 1.

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