The Financial Industry Regulatory Authority, Inc. (FINRA) has proposed a new rule to update fees under FINRA Rule 6897 related to the National Market System Plan's Consolidated Audit Trail for 2025. The updated fee, termed "CAT Fee 2025-1," will be $0.000022 per executed equivalent share. This fee adjustment aims to cover approximately half of the planned costs for 2025 and will replace the existing fee rate of $0.000035. The rule change is effective immediately and seeks public comments on its consistency with the Securities Exchange Act of 1934.
Simple Explanation
FINRA, which helps oversee how stocks are traded, wants to change the fee it charges companies when they trade shares, lowering it from $0.000035 to $0.000022 per share to help cover the costs of checking on trading activities. The change is happening right away, but some people are asking if the new amount is fair and if there will be clear information about the costs involved.