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Exchange Fee Scam?

Traders Magazine, May 2001

Joseph P. Kennebeck

You know what I find ironic? The Securities and Exchange Commission adopted Rules 11Ac1-5 and 11Ac1-6, requiring broker dealers to gather, massage and format data about customer trades.

Now these rules are being adopted and accepted by the SROs (NYSE, Amex and Nasdaq) as being helpful for customers. I will concede that point for the moment. However, there is a downside.

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