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SIA: Activity Fee Needs Comment Period

Traders Magazine, October 2002

Gregory Bresiger

The new Trading Activity Fee, which replaces the former Section 8(a) regulatory fee, should be put on hold, the Securities Industry Association said in a recent letter to the Securities and Exchange Commission. The new fee, which was proposed by the NASD, is different because it is a transactional fee assessed across all markets, according to the SIA.The old regulatory fee only affected Nasdaq securities. The old fee is assessed on NASD members, through clearing and self-clearing firms, on all transactions reported via Nasdaq's Automated Conformation Transaction system.

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