A recent round of fee hikes from FINRA will disproportionately affect smaller, independent firms, according to the Financial Services Institute.
FSI, an advocacy organization for independent broker-dealers and advisors, submitted a comment letter to the SEC opposing the increase in fees, which affect everything from advertising to central registration depository filings. Given the difficult economy and low profit margins, business at some of the smaller broker-dealer firms could suffer, the letter said.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access