Investor Advocacy Clinic Comments on Proposal to Eliminate Fee for Explained Decisions

In order to effectuate our mission, the Investor Advocacy Clinic regularly reviews and comments on FINRA rule proposals. By providing objective and critical analysis, we hope to meaningfully impact and shape the culture of investing. On April 4, 2018, the clinic commented on SR-FINRA-2018-012, a proposal that would eliminate the $400 fee for explained decisions.

The clinic’s comment, authored by student attorneys Abigail Howd, Dowdy White, and Eric Peters, supported FINRA’s efforts to eliminate the $400 financial barrier to explained decisions. While it is unlikely that the removal of the fee will increase the number of explained decisions, it will remove all financial barriers, encourage those who want an explained decision to request one, and promote transparency. Click here to read the Clinic’s comment letter in full.