On August 26th, the SEC announced that the fees that public companies and other issuers pay to register their securities with the SEC will be $110.20 per million dollars, an increase from $92.70 per million dollars in the previous fee rate advisory. The change in the fee rate will be effective October 1.
The new fee rate will apply to the following:
- registration of securities under Section 6(b) of the Securities Act of 1933
- repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934
- proxy solicitations and statements in corporate control transactions under Section 14(g) of the Securities Exchange Act of 1934
Under the securities laws, the SEC is required to make annual adjustments to the rates for fees paid pursuant Section 6(b) of the Securities Act of 1933, which also adjusts the annual fee rates under:
- Sections 13(e) and 14(g) of the Securities Act of 1934
- Rule 24f-2 under the Investment Company Act of 1940
The SEC is required to set rates for fees to levels that it estimates will generate collections equal to annual statutory target amounts. The SEC’s estimations are calculated using a process developed in consultation with the Office of Management and Budget and the Congressional Budget Office. By adjusting the fiscal year 2022 target collection amount of $747,806,372 million for the rate of inflation, the SEC determined the statutory target amount for fiscal year 2023 to be $815,557,629.
The SEC will publish further notices on sec.gov to keep the public apprised of developments relating to fees.
Sources:
SEC Issues First Fee Rate Advisory for Fiscal Year 2023 (sec.gov)
