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Section 31 Bandwagon Picks Up More Steam:A New Effort for Transaction Relief Is Planned by New Yo

Traders Magazine, December 1998

Jeffrey L. Winograd

A bill to reduce the amount of revenue raised in so-called Section 31 transaction fees is expected to be introduced in the House of Representatives as early as this month.

Amid reports of past tension among securities-industry activists on the same issue, Traders Magazine has learned that Rep. Michael Forbes (R.-N.Y.) and Rep. Sue Kelley (R.-N.Y.) plan to introduce the bill. It will seek to reduce the fees charged on each stock transaction from 1/300th of one percent to 1/600th of one percent.

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