Thursday, March 14. 2019

SEC Fee Rate Advisory #2 for Fiscal Year 2019

The SEC announced a second fee rate advisory for 2019 on March 12 which will take effect on April 16, 2019. Under this new rate, the fees applicable to most securities transactions will be set at $20.70 per million shares. Accordingly, each SRO will continue to pay the SEC a rate $13.00 per million for covered sales occurring on charge dates through April 15, 2019. That rate will increase as specified to the new rate on charge dates on or after April 16, 2019. This rate is commensurate with rates published prior to 2018. As noted in the last advisory, 2018 saw a lower fee rate as a result of a substantially higher dollar amount of covered sales.


The SEC determined these new rates in accordance with Section 31 of the Securities Exchange Act of 1934, and the adjustments do no reflect the Commission’s available funding. Additionally, the assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction. For more information, refer to Rule 31(a)(3) of the Exchange Act Release No. 49928.


The SEC will issue further notices to keep the public informed of developments relating to the effective dates for fee rates under Section 31.



Sources:

Fee Rate Advisory #2 for Fiscal Year 2019 (www.sec.gov)
Collection Practices under Section 31 of the Exchange Act (www.sec.gov)



Posted by
The Novaworks Team
in SEC at 14:43