On August 26th, the SEC announced the first fee rate advisory for the fiscal year 2021, which will go into effect on October 1, 2020. Under this new rate, the fees that public companies and other issuers pay to register their securities with the SEC will be set at $109.10 per million dollars, a drop from $129.80 per million dollars.
The SEC makes 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. Fee rates are set such that fees paid under Section 6(b) will generate collections equivalent to annual statutory target amounts, which for fiscal year 2021 is $709,554,300.
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 October 1, 2020, 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 $109.10 per million dollars from $129.80 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.
Further notices pertaining to fees under Section 6(b), Section 13(e) and Section 14(g) will be posted here on the blog at Novaworks and on the SEC’s website.