The U.S. Securities and Exchange Commission recently approved New Interpretive Material that authorizes FINRA to establish a temporary program allowing member firms to remit “Accumulated Funds”.
Effective December 11, 2007 and will automatically sunset effective June 11, 2008.
Firms on a one-time only, voluntary basis can remit all or part of FINRA funds previously collected, but not remitted, in connection with assessments used by NASD to pay the SEC’s section 31 fees.
To view the full Notice click here.
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