On April 30, the Securities and Exchange Commission announced that for the government’s fiscal year 2010, registration fees under the Securities Act of 1933 will increase from the current rate of $55.80 per million dollars registered to $71.30 per million dollars, an increase of approximately 28%. This increased rate will also be applicable to the repurchase of securities in going-private transactions pursuant to Section 13(e) of the Securities Exchange Act of 1934, as well as to proxy solicitations and statements in corporate control transactions. The fee rate applicable to securities transactions on the exchanges and in certain over-the-counter markets will at the same time decrease from $25.70 per million dollars to $12.70 per million dollars.
These new rates were calculated by the SEC under the Investor and Capital Markets Fee Relief Act that sets dollar targets for statutory fee collections for each fiscal year. The SEC must set rates for fees to levels that it projects will generate collections equal to such targets. For the 2010 fiscal year, these targets increase under the Act.
New rates will be effective on October 1 or five days after the date on which the SEC receives its regular Congressional appropriation, whichever date comes later. The SEC will publicly announce the actual effective date of the new fees. In the past, delays in Congress in passing appropriations bills have resulted in an effective date well beyond October 1.