MFDA annual membership fees will be equal to the MFDA fee rates multiplied by the Member's average assets under administration ("AUA"). MFDA fee rates are established annually by the MFDA Board of Directors.
Membership fees will be pro-rated in the first year of membership based on the date of acceptance into membership. Upon acceptance into membership, the MFDA will calculate and invoice the pro-rated fee by multiplying the fee rate(s) by the AUA reported as of March 31st for the current year.
For subsequent years of membership, membership fees will be based on the average of the Member’s AUA balance at March 31st of the prior year and March 31st of the current year. Annual membership fees, for the period July 1st to June 30th, will be equal to the MFDA fee rate multiplied by the Member's average AUA.
The approved fee rates for the year July 1, 2009 to June 30, 2010 are:
| |
Fee Rate |
| On the first $500 million of AUA |
$112 per million |
| On the next $500 million of AUA |
$105 per million |
| On the next $4 billion of AUA |
$ 97 per million |
| On the next $5 billion of AUA |
$ 90 per million |
| In excess of $10 billion of AUA |
$ 85 per million |
Annualized Assessment for MFDA Investor Protection Corporation
- $19 per million dollars of AUA
