To help cover an operating loss, the Financial Industry Regulatory Authority Inc. plans to hike a number of user fees that it charges broker-dealers. “The broader economic downturn continues to affect trading volumes and industry revenues, which in turn has led to a decrease in Finra’s revenues and resulted in a significant loss for fiscal year 2011,” Finra chief executive Richard Ketchum wrote in an e-mail to member firms last Monday. As a result, “we are proposing adjustments to a number of user-based fees, all of which have remained static for more than five years,” he wrote. Read Investment News article here.
