Legal Update: SEC Fee Rate Adjustments on the Horizon


Public companies and companies registering to go public should be aware of an upcoming fee rate adjustment to filing fees with the Securities and Exchange Commission.

What changes when?

On May 2, 2011, the SEC announced that, if a regular appropriation to the Commission for fiscal year 2012 is enacted on or before October 1, 2011, the fee rates applicable to most securities transactions will decrease from $19.20 per million dollars to $15.10 per million dollars in fiscal year 2012. The new fee rates will go into effect on the later of Oct. 1, 2011 or 30 days after the appropriation is enacted.

If a regular appropriation to the SEC for fiscal year 2012 is not enacted by Oct. 1, 2011, the new fee rates will not go into effect, and the SEC will be required to issue revised fee rates in accordance with the amendments to Section 31 of the Exchange Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act. In that case, the revised fee rates for fiscal year 2012 will be published thirty (30) days after the appropriation is enacted and become effective sixty (60) days after the appropriation is enacted.

The Section 31 assessment on securities futures transactions will remain unchanged at $0.0042 per round turn transaction.

Please see full article below for more information.

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Sheppard Mullin Richter & Hampton LLP on:

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