Amid stronger-than-expected revenues, the U.S. Financial Industry Regulatory Authority Inc. (FINRA) is rebating US$50 million in regulatory fees to brokerage firms.
The U.S. self-regulatory organization reported that strong trading activity and industry revenues generated higher fees than anticipated for 2024 — which, coupled with its latest financial forecasts and expectations for market conditions over the next few years, will enable the non-profit SRO to return money to its members.
As a result, FINRA’s board has approved a US$50-million rebate to firms that paid fees to the regulator in 2024.
The size of each firm’s rebate will be driven by its 2024 fees.
“The rebate includes the full annual minimum fee of US$1,200 (prorated if assessed for part-year), with the remainder allocated proportionally based on each firm’s other 2024 regulatory fees,” the SRO said.
FINRA said the rebate “will not impact its short- or long-term financial planning or ability to perform our regulatory responsibilities for the benefit of investors, members and capital markets.”