Section 31 Bandwagon Picks Up More Steam:A New Effort for Transaction Relief Is Planned by New Yo
Traders Magazine, December 1998
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.
All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.