On December 17, the Securities and Exchange Commission announced the effective dates for previously disclosed adjustments to fee rates for registration of securities, securities repurchases in going private transactions, proxy solicitations and transactions on exchanges and certain over-the-counter markets. The SEC’s announcement came in connection with the December 16 enactment of the congressional appropriations bill including funding for the SEC.
As reported in the May 8, October 2 and November 6 editions of Corporate and Financial Weekly Digest, registration fees under the Securities Act will increase from $55.80 per $1 million to $71.30 per $1 million. 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 December 21.
Additionally, effective January 15, 2010, the fee rate applicable to securities transactions on the exchanges and in certain over-the-counter markets will decrease from $25.70 per $1 million to $12.70 per $1 million.