Information Notice 3/17/26
Executive Summary
This FINRA Information Notice announces an SEC-mandated increase in the Section 31 fee rate from $0.00 to $20.60 per million dollars of specified securities transactions, effective April 4, 2026, reversing a prior zero-rate period. It matters because FINRA member firms will face renewed fee assessments on exchange and OTC trades, requiring immediate systems updates and budgeting adjustments ahead of the short implementation timeline. https://www.finra.org/rules-guidance/notices/information-notice-20260317[original notice] #
What Changed
- Section 31 Fee Rate Increase: The rate for specified securities transactions on exchanges and OTC markets rises from $0.00 to $20.60 per million dollars in transactions, based on trade date (not settlement date, per 17 CFR 240.31(a)(3)). This applies to covered sales with trade dates on or after April 4, 2026.[original notice] - Security Futures Unchanged: The assessment remains at $0.0042 per round turn transaction.[original notice] - FINRA Collection Mechanism: Fees are collected from member firms per Section 3 of Schedule A to FINRA By-Laws, aligned with SEC adjustments under Section 31 of the Exchange Act, following SEC consultation with CBO and OMB.[original notice] - This follows a prior decrease to $0.00 effective May 14, 2025 (from $27.80), showing annual volatility in rates. #
What You Need To Do
- Systems/Processes Update
- Budgeting/Financial Planning
- Legal Review
- Customer Disclosure
- Monitor SEC
Key Dates
Compliance Impact
Urgency: High - With only ~2.5 weeks from publication (March 17) to effective date (April 4, 2026), firms risk non-compliance, underbilling, or financial shortfalls if systems aren't updated promptly. This is critical for high-volume traders, as fees scale with transaction dollars, potentially adding significant costs post-zero-rate period; missing the trade-date trigger could lead to disputes or
Who is Affected
Summary
Information Notice 3/17/26