WASHINGTON, March 31 -- Sen. Bill Hagerty issued the following press release:
Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, sent a letter to the Financial Industry Regulatory Authority (FINRA) expressing concern about FINRA's decision to increase member firm fees and the need to ensure that the self-regulatory agency remains as transparent and accountable as the markets it oversees.
"We write to express our concerns regarding the Financial Industry Regulatory Authority's (FINRA) decision to increase member firm fees by $450 million, or about five percent on a compounded annual basis, through 2029 (the "Fee Increase"), which was approved by the Securities and Exchange Commission (SEC) in Januar...