STA Applauds Continued Reduction in Section 31 Fees

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5 March 2008

STA Applauds Continued Reduction in Section 31 Fees
Demonstrates Value of Cooperative Effort with Legislators and Regulators

(New York: March 5, 2008) The Security Traders Association (STA), the leading advocacy and education organization for professional equity traders in the U.S., today applauds the continued reduction in Section 31 fees, which are collected on equity trades from the securities industry to fund the Securities and Exchange Commission (SEC).

The STA worked with the Congress to help pass in 2002 The Investor and Capital Markets Fee Relief Act, which projected a reduction in the fee structure. Section 31 fees are paid by investors every time they sell a stock. The Act also increased funding for the SEC and granted SEC employees pay parity with Federal banking regulators as a way to help the Commission attract and retain quality staff.

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About The STA

The STA is a worldwide professional trade organization that works to improve the ethics, business standards and working environment for our members. There are approximately 6,000 members, all engaged in the buying, selling, and trading of securities. Members participate in STA through 28 national and international affiliate organizations and represent the interests of the trading community and institutional investors. The STA provides a forum for our traders, representing institutions, broker-dealers, ECNs, and floor brokers to share their unique perspectives on issues facing the securities markets. They work together to promote their shared interest in efficient, liquid markets as well as in investor protection.