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Section 3 — Regulatory Transaction Fee

Each member shall be assessed a regulatory transaction fee. The amount shall be determined periodically in accordance with Section 31 of the Act. Transactions assessable under this Section 3 that must be reported to FINRA shall be reported in an automated manner.

Amended by SR-FINRA-2008-001 eff. Jan. 1, 2008.
Amended by SR-NASD-2006-055 eff. Dec. 1, 2006.

Section 2 — Gross Revenue for Assessment Purposes

Gross revenue is defined for assessment purposes as total income as reported on FOCUS form Part II or IIA with the following exclusion: commodities income.

Amended by SR-NASD-2002-99 eff. Dec. 30, 2002.
Amended by SR-NASD-2002-182 eff. Dec. 24, 2002.
Amended by SR-NASD-2002-98 eff. July 24, 2002.
Amended by SR-NASD-96-15 eff. June 13, 1996.

Section 1 — Member Regulatory Fees

(a) Recovery of cost of services. FINRA shall, in accordance with this section, collect member regulatory fees that are designed to recover the costs to FINRA of the supervision and regulation of members, including performing examinations, financial monitoring, and policy, rulemaking, interpretive, and enforcement activities. FINRA shall periodically review these revenues in conjunction with these costs to determine the applicable rate.

Schedule A to the By-Laws of the Corporation

Assessments and fees pursuant to the provisions of Article VI of the By-Laws of the Corporation shall be determined on the following basis.

Amended by SR-FINRA-2008-001 eff. Jan. 1, 2008.
Amended by SR-NASD-2002-162 eff. Dec. 24, 2002.
Amended by SR-NASD-2002-98 eff. July 24, 2002.

Nominations at the First Annual Meeting Following Closing

Sec. 4. In the case of the first annual meeting of members following the Closing, nominations shall be by the Board of Directors of NYSE Group, Inc. with respect to Large Firm Governors, jointly by the Board of Directors of NYSE Group, Inc.

Term of Office of Governors

Sec.

Composition and Qualifications of the Board

Sec.

Powers and Authority of Board

Sec.

ARTICLE XXII TRANSITIONAL PERIOD

Notwithstanding anything herein to the contrary, to the extent there is any inconsistency between the other provisions of these By-Laws, including, without limitation, Sections 1, 4, 5 and 9 of Article VII hereof, and this Article XXII, the provisions of this Article XXII shall govern as of Closing and for the Transitional Period to the fullest extent permitted by applicable law:

Conduct of Meetings

Sec. 5. The chairman of the meeting shall be the Chief Executive Officer of the Corporation or his or her designee. The date and time of the opening and closing of the polls for each matter upon which the members will vote at a meeting shall be announced at the meeting by the chairman of the meeting. The Board may adopt by resolution such rules and regulations for the conduct of the meeting of members as it shall deem appropriate.

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