On September 28, the Securities and Exchange Commission announced that from October 1 to October 31, it will postpone adjustments in fee rates relating to registration of securities, securities repurchases in going-private transactions, proxy solicitations and transactions on exchanges and certain over-the-counter markets. The SEC will maintain its current fee rates during this period.
As previously reported in the May 8 edition of Corporate and Financial Weekly Digest, the SEC announced on April 30 that for the government’s fiscal year 2010, which began on October 1, registration fees under the Securities Act would increase 28% from $55.80 per million dollars to $71.30 per million dollars. The increased rate is also applicable to the repurchase of securities in going-private transactions pursuant to Section 13(e) of the Exchange Act, as well as to proxy solicitations and statements in corporate control transactions. The effective date for these changes is five days after enactment of the SEC’s regular congressional appropriation. Additionally, 30 days after the SEC’s congressional appropriation is enacted, the fee rate applicable to securities transactions on the exchanges and in certain over-the-counter markets will decrease from $25.70 per million dollars to $12.70 per million dollars. The SEC will provide further notices as to specific effective dates.
Click here for the SEC’s press release regarding the postponement of its fee changes.
Click here for the SEC’s April 30 order announcing adjustments to its fee rates.