# 2025-10971: FINRA Pushes Back Fee Start Date: Snooze Alert

2025-10971, Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Implementation Schedule of Amendments to Section 7 of Schedule A to the FINRA By-Laws Adopted in SR-FINRA-2024-019, is a Federal Register notice from Securities and Exchange Commission published 2025-06-17, effective 2025-06-05; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-10971
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-10971
- Title: Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Implementation Schedule of Amendments to Section 7 of Schedule A to the FINRA By-Laws Adopted in SR-FINRA-2024-019
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 25684
- Published: 2025-06-17
- Effective: 2025-06-05
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

FINRA Pushes Back Fee Start Date: Snooze Alert

## Summary

FINRA is changing the timeline for when new fees on certain securities filings will start. This affects companies and brokers who submit these documents, giving them more time before the fees kick in. The update helps everyone get ready without rushing and keeps the fee rules clear and fair.

## Effects PRIA read

- Fee Start Dates Pushed to Jan 1, 2027: benefit, medium. FINRA is delaying the start of two Corporate Financing fees from July 1, 2025 to January 1, 2027. From July 1, 2025 through December 31, 2026, private placements will be reviewed at no charge and public offerings will be reviewed at the current rates (no increase).
- Private Placement Fee Details (Starts 2027): cost, high. When implemented on January 1, 2027, the Corporate Financing Private Placement Review Fee will apply only to private placements larger than $25,000,000 and consist of a $300 flat fee plus 0.008% of the maximum offering proceeds, with a cap tied to a $500,000,000 offering (capped at $40,300 as descr…
- Public Offering Fee Caps Increase (Starts 2027): cost, high. Implementation of increases to the Corporate Financing Public Offering Review Fee caps is delayed to January 1, 2027. At that time the non-WKSI fee cap would rise to $1,125,000 (from $225,500) and the WKSI fee cap would be $389,000 in 2027 (rising to $467,000 on January 1, 2028 and $560,000 on Janu…

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## Sources
- [2025-10971 on federalregister.gov](https://www.federalregister.gov/documents/2025/06/17/2025-10971/self-regulatory-organizations-financial-industry-regulatory-authority-inc-notice-of-filing-and)
- [2025-10971 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-06-17/pdf/2025-10971.pdf)

## Related
- [Previous: 2025-10970, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Im…](https://policyrisk.com/federal-register/2025-10970)
- [Next: 2025-10972, Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Imm…](https://policyrisk.com/federal-register/2025-10972)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-10971 (as of 2026-06-08).