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 appli
- 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.
Suggested Considerations
- Systems/Processes Update: Adjust billing, trading, and reporting systems to apply the new rate to transactions with trade dates ≥ April 4, 2026; confirm "charge date" uses trade date per 17 CFR 240.31(a)(3).[original notice]
- Budgeting/Financial Planning: Forecast and reserve for fee liabilities based on projected transaction volumes; contact Amanda Rath for finance queries.[original notice]
- Legal Review: Consult Robert McNamee or Faisal Sheikh for interpretive questions; review By-Laws Schedule A Section 3.[original notice]
- Customer Disclosure: If passing fees to clients, ensure compliant disclosures (as reminded in prior notices).
- Monitor SEC: Check SEC website for further notices on rates.[original notice]
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
References
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Summary
Information Notice 3/17/26