Rule 19b-3 financial definition of Rule 19b-3
rule that requires commissions
to compete with each other. That is, under Rule 19b-3, brokerages are not allowed to collude to fix commissions. This rule is intended to protect the clients of brokers from anti-competitive
An SEC rule that prohibits the fixing of commission rates.
References in periodicals archive
section] 78f(e) (1975); Adoption of Securities Exchange Act Rule 19b-3
, Exchange Act Release No.