10/5/2009

SIFMA and the Financial Services Institute are rallying their members in opposition to a proposal from the Financial Industry Regulatory Authority to raise fees for advisers and broker-dealers. SIFMA plans to explain its concerns in a letter to the Securities and Exchange Commission. Both groups question FINRA's timing on the fee increase. "SIFMA has several concerns about the proposed increase, not the least of which is the considerable financial impact the assessment will have on member firms during a time when the industry as a whole is experiencing a profound downturn," according to SIFMA's letter.

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