The Securities and Exchange Commission today announced that, starting on May 22, 2024, the fee rates applicable to most securities transactions will be set at $27.80 per million dollars.
Consequently, each self-regulatory organization will continue to pay the Commission a rate of $8 per million for covered sales occurring on charge dates through May 21, 2024, and a rate of $27.80 per million for covered sales occurring on charge dates on or after May 22, 2024.
Pursuant to 15 U.S.C. § 78ee, the SEC sets fiscal-year fee rates after the agency receives its full-year appropriation. Until the new rate becomes effective, the existing rate stays in place.
In fiscal year 2023, the fee rate was $8 per million, and that fee rate will stay in effect during the first eight months of FY 2024.
Because the rate did not increase at the beginning of FY 2024, and because the SEC did not receive its full-year appropriation until March 2024, the fee rate for the remainder of the year increased to balance collections to the targeted collection amount.
For more information on the term “charge date,” please refer to Rule 31(a)(3) and Exchange Act Release No. 49928 at http://www.sec.gov/rules/final/34-49928.htm.
The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction.
The Commission determined these new rates in accordance with Section 31 of the Securities Exchange Act of 1934. These adjustments do not directly affect the amount of funding available to the SEC.
The Office of Interpretation and Guidance in the SEC’s Division of Trading and Markets is available for questions on Section 31 at (202) 551-5777, or by email at tradingandmarkets@sec.gov.
The Commission will issue further notices as appropriate to keep the public informed of developments relating to fees under Section 31. These notices will be posted at the SEC’s website at http://www.sec.gov.
Source: SEC
