diff --git a/protocol/0029-FEES-fees.md b/protocol/0029-FEES-fees.md
index fdf8c339c..3f1ebb29e 100644
--- a/protocol/0029-FEES-fees.md
+++ b/protocol/0029-FEES-fees.md
@@ -203,8 +203,8 @@ For example, Ether is 18 decimals (wei). The smallest unit, non divisible is 1 w
 - Once total fee is collected, `liquidity_fee = fee_factor[liquidity] * trade_value_for_fee_purposes` is distributed to liquidity providers as described in [this spec](./0042-LIQF-setting_fees_and_rewarding_lps.md).(<a name="0029-FEES-048" href="#0029-FEES-048">0029-FEES-048</a>)
 - Once total fee is collected, `treasury_fee = fee_factor[treasury] * trade_value_for_fee_purposes` (with appropriate fraction of `high_volume_maker_fee` deducted) is transferred to the treasury fee pool for that asset, where it will remain until community governance votes for transfers.(<a name="0029-FEES-049" href="#0029-FEES-049">0029-FEES-049</a>)
 - Once total fee is collected, `buyback_fee = fee_factor[buyback] * trade_value_for_fee_purposes` (with with appropriate fraction of `high_volume_maker_fee` deducted) is transferred to the buyback fee pool for that asset, where it will remain until community governance votes for transfers or a regular purchase program is set up.(<a name="0029-FEES-050" href="#0029-FEES-050">0029-FEES-050</a>)
-- Change of network parameter `market.fee.factors.treasuryFee` will, as soon as the current epoch ends, change the amount of `treasury_fee` that is transferred to the treasury fee pool for that asset. (<a name="0029-FEES-051" href="#0029-FEES-051">0029-FEES-051</a>)
-- Change of network parameter `market.fee.factors.buybackFee` will, as soon as the current epoch ends, change the amount of `buyback_fee` that is transferred to the treasury fee pool for that asset. (<a name="0029-FEES-052" href="#0029-FEES-052">0029-FEES-052</a>)
+- Once a change to `market.fee.factors.treasuryFee` is enacted, all future trades will apply the updated fee factor and cap high volume maker rebates where necessary using the updated factor. (<a name="0029-FEES-051" href="#0029-FEES-051">0029-FEES-051</a>)
+- Once a change to `market.fee.factors.buybackFee` is enacted, all future trades will apply the updated fee factor and cap high volume maker rebates where necessary using the updated factor. (<a name="0029-FEES-052" href="#0029-FEES-052">0029-FEES-052</a>)
 
 ### Applying benefit factors