Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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February 2, 2006

Section 31 Fees Cut

By Gregory Bresiger

Section 31 fees-which a few years ago roiled the trading world and led to the furious lobbying of Congress by the securities industry-have been reduced again. On exchanges and over-the-counter markets, the imposts were cut last month from $41.80 per one million dollars to $30.70 per million.

"It no longer seems to be a big issue. I hear few complaints these days about Section 31," said John Giesea, president of the Security Traders Association.

The fees, which are used to fund the costs of regulation, were once a profit center for the federal government. Now the revenue generated by the fees is closer to the actual costs of regulation, trading industry lobbyists say.