Fee Rate Advisory #1 For Fiscal Year 2010

Washington, D.C., April 30, 2009 (LAWFUEL) – The Securities and Exchange Commission today announced that in fiscal year 2010 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $71.30 per million dollars. In addition, the fees applicable to most securities transactions will be fixed at $12.70 per million dollars.

The Commission determined these new rates in accordance with the procedures required under the Investor and Capital Markets Fee Relief Act. Accordingly, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. These adjustments do not affect the amount of funding available to the Commission.

A copy of the Commission’s order, including the calculation methodology, is available at http://www.sec.gov.

Background

The Investor and Capital Markets Fee Relief Act requires that the Commission make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e), 14(g), and 31 of the Securities Exchange Act of 1934. Specifically, the Commission must set rates for the fees paid under Section 6(b) of the Securities Act of 1933 and Section 31 of the Securities Exchange Act of 1934 to levels that the Commission projects will generate collections equal to annual targets specified in the Act. The targets in the Fee Relief Act for fiscal years 2009 and 2010 are as follows:

(Figures in millions)
FY 2009
FY 2010

Statutory Collections Targets for Fees Under Section 6(b) of the Securities Act of 1933
$284
$334

Statutory Collections Targets for Fees Under Section 31 of the Securities Exchange Act of 1934
$1,023
$1,161

Effective Oct. 1, 2009, or five days after the date on which the Commission receives its fiscal year 2010 regular appropriation, whichever date comes later, 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 $55.80 per million dollars to $71.30 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.

In addition, effective Oct. 1, 2009, or 30 days after the date on which the Commission receives its fiscal year 2010 regular appropriation, whichever date comes later, the Section 31 fee rate applicable to securities transactions on the exchanges and certain over-the-counter markets will decrease from $25.70 per million dollars to $12.70 per million dollars. The assessment on security futures transactions under Section 31(d) will remain unchanged at $0.0042 for each round turn transaction.

The Office of Interpretation and Guidance in the Commission’s Division of Trading and Markets is available for questions on Section 31 at (202) 551-5777, or by e-mail at [email protected]

The Commission will issue further notices as appropriate to keep the public informed of developments relating to the effective dates of the fee rates under Section 6(b), Section 13(e), Section 14(g), and Section 31. These notices will be posted at the Commission’s Internet Web site at http://www.sec.gov.

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