FOR IMMEDIATE RELEASE                                                 2001-151

                             FEE RATE ADVISORY #7

     	Washington, DC, December 21, 2001 - The Congress has passed, and will 
soon send to the President for signature, H.R. 1088, the "Investor and Capital 
Markets Relief Act." If signed by the President, this Act would substantially 
reduce the fee rates under Section 6(b) of the Securities Act of 1933 and 
Sections 13(e), 14(g), and 31 of the Securities Exchange Act of 1934. The fee 
rates under Securities Act Section 6(b) and Exchange Act Sections 13(e) and 
14(g) would decline to $92 per $1,000,000 effective October 1, 2001.  The fee 
rates under Exchange Act Section 31 would decline to $15 per $1,000,000 effective 
December 28, 2001.  In addition, as of such date, Section 31 fees would no longer 
apply to sales of options on securities indexes (other than narrow-based security 
indexes).  

	The Commission will issue further notices as appropriate to keep the public 
informed of developments.  This information will be posted at the SEC's Internet 
web site at http://www.sec.gov.  

	If you have any questions about these new fee rates, please contact the Filer 
Support Unit in the Office of Filings and Information Services at (202) 942-8900.


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