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SEC releases first fee rate advisory for FY 2018

Joe Mont | August 25, 2017

The Securities and Exchange Commission has announced that in fiscal year 2018 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $124.50 per million dollars.

The securities laws require the SEC to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e) and 14(g) of the Securities Exchange Act of 1934.  It must set rates for the fees paid under Section 6(b) to levels that generate collections equal to annual statutory target amounts. 

The Commission’s projections are calculated using a methodology developed in consultation with the Congressional Budget Office and the Office of Management and Budget. 

The statutory target amount for fiscal year 2018 is $620 million.  The annual adjustment to the fee rate under Section 6(b) also sets the annual adjustment to the fee rates under Sections 13(e) and 14(g).

Effective Oct. 1, 2017, the Section 6(b) fee rate applicable to the registration of securities, the Section 13(e) fee rate applicable to the repurchase of securities, and the Section 14(g) fee rates applicable to proxy solicitations and statements in corporate control transactions will increase from $115.90 per million dollars to $124.50 per million dollars. 

The Section 6(b) rate is also the rate used to calculate the fees payable with the Annual Notice of Securities Sold Pursuant to Rule 24f-2 under the Investment Company Act of 1940.

The Commission will issue further notices and updates as appropriate.