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FIA PTG supports SEC proposal to rescind effective-upon-filing procedure for NMS plan fee amendments

10 December 2019

In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) concurred with the SEC that the current effective-upon-filing procedure for NMS plan fee amendments should be rescinded and replaced with the standard fee amendment process which allows for public comment before becoming effective. Specifically, FIA PTG said most NMS Plan fees are assessed in connection with core data. Because many market participants, including most FIA PTG members as registered broker-dealers, must have access to core data to meet their regulatory obligations, it is important that they have the opportunity to comment on Proposed Fee Changes for core data before they are subject to the new fees. This will become even more critical with the implementation of the Consolidated Audit Trail (“CAT”).

  • FIA PTG
  • Regulation