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Gramm Move to Reduce Transaction Fees

Traders Magazine, March 2000

William Hoffman

Proponents of Section 31 fee relief have had their hopes buoyed by the introduction of the Competitive Market Supervision Act by Senate Banking Committee Chairman Phil Gramm (R.-Texas).

"This is a real improvement," said Lee Korins, president of the Security Traders Association. "It's the first time in my memory that the SEC, in the person of [chairman] Arthur Levitt, has come out in favor of one of the approaches."

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