SEC Announces Fiscal Year 2015 Fee Rate
In a press release Friday, the Securities and Exchange Commission (“SEC”) has announced that fees public companies and other issuers pay for registering their securities will be $116.20 per million dollars in fiscal year 2015. Per Section 6(b) of the Securities Act of 1933 and Sections 13(e) and 14(g) of the Securities Exchange Act of 1934, the SEC is required to adjust the annual rates for fees paid to levels that reflect projections of how much the agency will generate equal to yearly statutory target amounts. According to the SEC’s projections, fiscal year 2015’s statutory target amount is set for $515 million.
Under law, the annual rate changes are mandated to go in effect the first day of each fiscal year. As a result, fee rates under Section 6(b), Section 13(e) and Section 14(g) will be effective October 1st, and decrease from the previous $128.80 per million dollars. The SEC also plans to release additional public notices on its website, when appropriate, regarding the effective date of the fee rate changes under the aforementioned sections.
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