Series 7 Examination Fee Increase Effective September 15, 1999

INFORMATIONAL

NYSE Series 7 Examination

The Suggested Routing function is meant to aid the reader of this document. Each NASD member firm should consider the appropriate distribution in the context of its own organizational structure.

Executive Summary

The New York Stock Exchange, Incorporated (NYSE) has increased the examination development fee from $40 to $90 for the Series 7 Examination, which is charged to each person who takes that Examination. The increase is effective on September 15, 1999.

Questions/Further Information

Questions concerning this Notice to Members may be directed to Mary M. Dunbar, Office of General Counsel, NASD Regulation, Inc., at (202) 728-8252; or Mary Anne Furlong, NYSE, at (212) 656-4823.

Discussion

Each person who takes the Series 7 Examination (Series 7 Exam) must pay a NYSE examination development fee, as well as other fees. The National Association of Securities Dealers, Inc. (NASD^®) collects the examination development fee on behalf of the NYSE.

The NYSE has increased the fee from $40 to $90.¹ The fee increase is effective on September 15, 1999. The fee charged by the NASD for taking the Series 7 remains $110. Therefore, on and after September 15, 1999, the fees to take the Series 7 will total $200.

Endnote

¹ Exchange Act Rel. No. 41548 (Jun. 22, 1999), 64 FR 35231 (Jun. 30, 1999).