Press Release: Fee Rate Advisory #2 for Fiscal Year 2007; 2006-161; Sept. 26, 2006
The SEC announced administrative fee rate reductions for fiscal year 2007, lowering securities registration and proxy fees from $107.00 to $30.70 per million and transaction fees from $30.70 to $15.30 per million, with no fraud, misconduct, or charges involved.
The SEC issued a regulatory notice on September 26, 2006, announcing planned fee reductions effective upon enactment of its fiscal year 2007 appropriation. Section 6(b), 13(e), and 14(g) fees for securities registration, repurchases, and proxy solicitations will decrease from $107.00 to $30.70 per million, while Section 31 transaction fees will drop from $30.70 to $15.30 per million. These changes are statutory, contingent on congressional funding, and involve no allegations of fraud, enforcement actions, or financial penalties.
On September 26, 2006, the SEC issued Fee Rate Advisory #2 for fiscal year 2007, outlining scheduled reductions in securities-related fees contingent on the enactment of its regular appropriation. The Section 6(b), 13(e), and 14(g) fees for securities registration, repurchases, and proxy solicitations will decrease from $107.00 to $30.70 per million, while the Section 31 fee for exchange and over-the-counter transactions will fall from $30.70 to $15.30 per million. These adjustments are mandated by law and designed to align fee revenues with the SEC’s actual operating costs, not as a response to misconduct. The changes will take effect five days after appropriation enactment for Sections 6(b), 13(e), and 14(g), and thirty days after for Section 31. Self-regulatory organizations like the NYSE and NASD are responsible for collecting and remitting Section 31 fees from their members. The SEC directed stakeholders to its website and those of the SROs for updates and provided contact information for the Division of Market Regulation’s Office of Interpretation and Guidance. No individuals, firms, or entities are accused of wrongdoing; the notice is purely administrative and informational.
Extracted insights
- $107 $107.00 <$10K
- agency 202-551-5777 or [email protected]
- person nasd regulation
- agency Securities and Exchange Commission
- SEC issued Fee Rate Advisory #2 For Fiscal Year 2007
- Section 6(b) Fee Rate will decrease to $30.70 per million from $107.00 per million
- Section 13(e) Fee Rate will decrease to $30.70 per million from current rate
- Section 14(g) Fee Rate will decrease to $30.70 per million from current rate
- Section 31 Fee Rate will decrease to $15.30 per million from $30.70 per million
- SEC issued order on April 28, 2006 regarding fee rates for fiscal year 2007
- Fiscal Year 2007 starts on October 1, 2006
- New York Stock Exchange provides information at http://www.nyse.com
- NASD Regulation provides information at http://www.nasdr.com
- Division of Market Regulation can be reached at 202-551-5777 or [email protected]
Fee Rate Advisory #2 For Fiscal Year 2007 FOR IMMEDIATE RELEASE 2006-161 Washington, D.C., Sept. 26, 2006 - When fiscal year 2007 starts on Oct. 1, 2006, the Securities and Exchange Commission may be operating under a continuing resolution. In that event, 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 will remain at their current rates. Five days after the date of enactment of the Commission's regular fiscal year 2007 appropriation, 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 rate applicable to proxy solicitations and statements in corporate control transactions will decrease to $30.70 per million from the current rate of $107.00 per million, as previously announced. In addition, thirty days after the date of enactment of the Commission's regular appropriation, the Section 31 fee rate applicable to securities transactions on the exchanges and in the over-the-counter markets will decrease to $15.30 per million from the current rate of $30.70 per million. Pursuant to their rules, self-regulatory organizations collect from their members funds to offset the self-regulatory organizations' Section 31 obligations. Additional information on the transition to the new Section 31 fee rate will be available on the Internet websites of the New York Stock Exchange and NASD Regulation at http://www.nyse.com and http://www.nasdr.com, respectively. The Division of Market Regulation's Office of Interpretation and Guidance is also available to answer questions relating to Section 31. That office may be reached by phone at 202-551-5777 or by email at [email protected]. A copy of the Commission's April 28, 2006 order regarding fee rates for fiscal year 2007 is available at http://www.sec.gov/rules/other/2006/33-8681.pdf. The Commission will issue further notices as appropriate to keep the public informed of developments relating to enactment of the Commission's regular appropriation and the effective dates for the above fee rate changes. These notices will be posted at the SEC's Internet web site at http://www.sec.gov. # # # http://www.sec.gov/news/press/2006/2006-161.htm Home | Previous Page Modified: 09/26/2006
Fee Rate Advisory #2 For Fiscal Year 2007 FOR IMMEDIATE RELEASE 2006-161 Washington, D.C., Sept. 26, 2006 - When fiscal year 2007 starts on Oct. 1, 2006, the Securities and Exchange Commission may be operating under a continuing resolution. In that event, 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 will remain at their current rates. Five days after the date of enactment of the Commission's regular fiscal year 2007 appropriation, 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 rate applicable to proxy solicitations and statements in corporate control transactions will decrease to $30.70 per million from the current rate of $107.00 per million, as previously announced. In addition, thirty days after the date of enactment of the Commission's regular appropriation, the Section 31 fee rate applicable to securities transactions on the exchanges and in the over-the-counter markets will decrease to $15.30 per million from the current rate of $30.70 per million. Pursuant to their rules, self-regulatory organizations collect from their members funds to offset the self-regulatory organizations' Section 31 obligations. Additional information on the transition to the new Section 31 fee rate will be available on the Internet websites of the New York Stock Exchange and NASD Regulation at http://www.nyse.com and http://www.nasdr.com, respectively. The Division of Market Regulation's Office of Interpretation and Guidance is also available to answer questions relating to Section 31. That office may be reached by phone at 202-551-5777 or by email at [email protected]. A copy of the Commission's April 28, 2006 order regarding fee rates for fiscal year 2007 is available at http://www.sec.gov/rules/other/2006/33-8681.pdf. The Commission will issue further notices as appropriate to keep the public informed of developments relating to enactment of the Commission's regular appropriation and the effective dates for the above fee rate changes. These notices will be posted at the SEC's Internet web site at http://www.sec.gov. # # # http://www.sec.gov/news/press/2006/2006-161.htm Home | Previous Page Modified: 09/26/2006