Commentary

Jos Schmidt
Traders Magazine Online News

Reducing the Regulatory Burden on Public Companies, Yes Please But...

In this commentary, NEO's Jos Schmidt discusses regulatory requirements and needs in the Canadian equity markets.

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July 31, 1998

At Deadline - Section 31 Fees

By John A. Byrne

Backed by the trading community, House Rules Committee Chairman Gerald Solomon (R-N.Y.) is lining up support for his bill on Section 31 transaction fees. In the waning days of the current session of Congress, Solomon engaged House Commerce Committee Chairman Thomas Bliley (R-Va.) in dialogue about the fees on the House floor. The bill, H.R. 4213 co-sponsored by Rep. Robert Menendez (D-N.J.), seeks to cap the total amount of fees the Securities and Exchange Commission can accumulate on the sale of stocks. Earlier, Solomon presented his case to a Republican outfit known as the Conservative Action Team.

Another bill, sponsored by Rep. Michael Forbes (R-N.Y.) would seek to slash the level of Section 31. In an interview, he said the bill is of significant importance to the trading community in his congressional district.

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