On April 17, the Financial Industry Regulatory Authority issued Regulatory Notice 18-12, which announces that FINRA will collect a total of $8,346,300 to fund the annual budget of the Governmental Accounting Standards Board (GASB) by collecting $2,086,575 from member firms each calendar quarter beginning in April 2018.

The GASB Accounting Support Fee is collected quarterly from member firms that report trades to the Municipal Securities Rulemaking Board (MSRB). Each member firm’s fee assessment is based on that firm’s part of the total par value of municipal securities transactions reported by all FINRA member firms to the MSRB in the previous quarter. As some firms choose to pass the GASB Accounting Support Fee onto customers engaged in municipal securities transactions, FINRA will continue to provide firms with an estimated fee rate per $1,000 par value. FINRA has estimated that the 2018 GASB Annual Support Fee will be between $0.0024 and $0.0030 per $1,000 par value. Member firms choosing to pass along this fee must ensure that such fees are properly disclosed.

The regulatory notice is available here.