FINRA delays fee schedule changes to 2029-2031

On September 15, 2026, FINRA filed with the SEC a proposed rule change designated as "establishing or changing a due, fee or other charge" under Section 19(b)(3)(A)(ii) of the Act. The filing, identified as SR-FINRA-2026-020, is effective upon receipt, and the Commission is publishing this notice to solicit comments.

The proposal modifies the implementation schedule of amendments adopted in SR-FINRA-2024-019 and modified in SR-FINRA-2025-007. Those amendments were originally set to phase fee increases over a five-year period from 2025 through 2029 to align FINRA's revenues with projected costs.

FINRA seeks to postpone for two years the fee changes scheduled to take effect between January 1, 2027 and January 1, 2029. The postponement covers core regulatory fees - including Gross Income Assessment, Trading Activity Fee, Personnel Assessment, Branch Office System Processing Fee, Registration Fees, System Processing, and Renewal Late Fee - as well as the Corporate Financing Private Placement Review Fee and Corporate Financing Public Offering Review Fee. Fees already implemented in 2025 or 2026, such as Advertising Regulation Review and Branch Office Registration, are not affected.

During the two-year postponement, members will be charged at the 2026 rates. The revised schedule sets the former 2027 fees to take effect on January 1, 2029; the former 2028 fees on January 1, 2030; and the former 2029 fees on January 1, 2031. No rate changes are anticipated for 2031 beyond those already outlined in the 2024 Fee Filing.

The Commission will accept comments on the proposed rule change from interested persons as required by Rule 19b-4. The notice is published in the Federal Register, Volume 91, Number 183, pages 60427-60433.