Fee Rate Advisory #1 for Fiscal Year 2006
The SEC announced a statutory reduction in securities filing and transaction fees effective October 1, 2005, lowering Section 6(b)/13(e)/14(g) rates from $117.70 to $107.00 per million and Section 31 rates from $41.80 to $30.70 per million, with no fraud, charges, or penalties involved.
The SEC issued a regulatory notice on April 29, 2005, reducing fee rates under the Investor and Capital Markets Fee Relief Act effective October 1, 2005. Section 6(b), 13(e), and 14(g) fees decreased from $117.70 to $107.00 per million, while Section 31 transaction fees dropped from $41.80 to $30.70 per million. These adjustments were mandated by law, based on consultations with the Congressional Budget Office and OMB, and were designed to align with appropriation levels without affecting SEC funding—no individuals or entities faced charges or allegations of wrongdoing.
On April 29, 2005, the SEC issued a regulatory notice announcing annual fee rate adjustments required by the Investor and Capital Markets Fee Relief Act, effective October 1, 2005, or later if tied to appropriation timing. The Section 6(b), 13(e), and 14(g) fees for securities registration, repurchases, and proxy solicitations were reduced from $117.70 to $107.00 per million, while the Section 31 transaction fee on exchanges and OTC markets decreased from $41.80 to $30.70 per million. These changes were based on statutory requirements and consultations with the Congressional Budget Office and the Office of Management and Budget to reflect funding adjustments without altering the SEC’s overall budget. Self-regulatory organizations like the NYSE and NASD were responsible for communicating the transition to their members via their websites. The SEC emphasized that the fee reductions did not impact its funding levels and were purely administrative. No fraud, misconduct, penalties, or charges were associated with this notice—it was purely a procedural update to fee structures. The full order and calculation methodology were made publicly available on the SEC’s website for transparency.
Exhibits & Attached Documents (2)
Extracted insights
- $118 $117.70 <$10K
- $107 $107.00 <$10K
- person adjusted fee rates
- Investor And Capital Markets Fee Relief Act requires Commission To Make Annual Adjustments To Fee Rates
- Section 6(b) Fee Rate decreases to $107.00 Per Million
- Section 13(e) Fee Rate decreases to $107.00 Per Million
- Section 14(g) Fee Rates decrease to $107.00 Per Million
- Section 31 Fee Rate decreases to $30.70 Per Million
- Commission consulted with Congressional Budget Office And Office Of Management And Budget
- Adjusted Fee Rates will not affect Amount Of Funding Available To The Commission
- Self-regulatory Organizations collect from Members Funds To Offset Section 31 Fee Obligations
- Commission will issue Further Notices To Keep The Public Informed
FEE RATE ADVISORY #1 FOR FISCAL YEAR 2006 FOR IMMEDIATE RELEASE 2005-69 Washington, D.C., April 29, 2005 - 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. Effective Oct. 1, 2005, or 5 days after the date on which the Commission receives its fiscal year 2006 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 decrease to $107.00 per million from the current rate of $117.70 per million. In addition, effective Oct. 1, 2005, or 30 days after the date on which the Commission receives its fiscal year 2006 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 to $30.70 per million from the current rate of $41.80 per million. As required by the statute, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. The adjusted fee rates will 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. Pursuant to their rules, self-regulatory organizations collect from their members funds to offset the self-regulatory organizations' Section 31 fee obligations. Additional information on the transition to the new Section 31 fee rate will be available shortly on the Internet web sites of The New York Stock Exchange, Inc. and NASD Inc. at http://www.nyse.com and http://www.nasd.com, respectively. The Office of Interpretation and Guidance in the Commission's Division of Market Regulation is also available for questions on Section 31 fees at (202) 942-0069, 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. See also: Order See also: Fee Rates FY 2006 Tables http://www.sec.gov/news/press/2005-69.htm Home | Previous Page Modified: 04/29/2005
FEE RATE ADVISORY #1 FOR FISCAL YEAR 2006 FOR IMMEDIATE RELEASE 2005-69 Washington, D.C., April 29, 2005 - 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. Effective Oct. 1, 2005, or 5 days after the date on which the Commission receives its fiscal year 2006 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 decrease to $107.00 per million from the current rate of $117.70 per million. In addition, effective Oct. 1, 2005, or 30 days after the date on which the Commission receives its fiscal year 2006 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 to $30.70 per million from the current rate of $41.80 per million. As required by the statute, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. The adjusted fee rates will 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. Pursuant to their rules, self-regulatory organizations collect from their members funds to offset the self-regulatory organizations' Section 31 fee obligations. Additional information on the transition to the new Section 31 fee rate will be available shortly on the Internet web sites of The New York Stock Exchange, Inc. and NASD Inc. at http://www.nyse.com and http://www.nasd.com, respectively. The Office of Interpretation and Guidance in the Commission's Division of Market Regulation is also available for questions on Section 31 fees at (202) 942-0069, 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. See also: Order See also: Fee Rates FY 2006 Tables http://www.sec.gov/news/press/2005-69.htm Home | Previous Page Modified: 04/29/2005