BMA: SEC Should Delay TRACE Permanent Fee Approval

ADMINISTRATION & MANAGEMENT

The Securities and Exchange Commission (SEC) should delay approval of the National Association of Securities Dealers’ (NASD) proposal for a permanent fee structure for the Trade Reporting and Compliance Engine (TRACE), says a comment letter from the Bond Market Association (BMA).

"We believe some financial disclosure [regarding TRACE] is necessary before the SEC can make a decision," Michele David, vice-president and assistant general counsel of the BMA, tells Inside Market Data.

"NASD has

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