On January 15, the SEC announced that starting on Feb. 14, 2015, the fee rates applicable to most securities transactions will be set at $18.40 per million dollars. Each SRO will continue to pay the Commission a rate of $22.10 per million for transactions occurring on charge dates through Feb. 13, 2015, and a rate of $18.40 per million for transactions occurring on charge dates on or after Feb. 14, 2015. Release. Order.
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NFA Approves Amendments to Customer Funds Reporting Requirements
On August 16, the National Futures Association (NFA) approved amendments to NFA Financial Requirements that will require a futures commissions merchant (FCM) to provide its Designated SRO with view-only access via the internet to account information for each of the FCM’s customer segregated funds accounts maintained and held at a bank or trust company. Designated SROs would be able to review this information at any time against an FCM’s daily segregation report. The amendments have been sent to the CFTC for approval. NFA Release.
GAO Report on Forming SRO for Private Fund Advisers
On July 11, pursuant to Section 416 of the Dodd-Frank Act, the GAO issued a report on the feasibility of forming a self-regulatory organization (SRO) to oversee advisers to private funds. GAO Summary. GAO Report.