Under Section 31 of the Securities Exchange Act of 1934, Financial Industry Regulatory Authority (FINRA) and national securities exchanges, such as the New York Stock Exchange (NYSE) and the American Stock Exchange (ASE), must pay transaction fees to the Securities Exchange Commission (SEC). Each brokerage firm passes along the fees it collects to FINRA and the exchanges, and these fees are ultimately forwarded to the U.S. Treasury. SEC fees are only assessed when you sell a stock. Click for more details.
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