Fee Rate Advisory #2 for Fiscal Year 2005
FOR IMMEDIATE RELEASE
Washington, D.C., Sept. 27, 2004 -- When fiscal year 2005 starts on Oct. 1, 2004, the Securities and Exchange Commission may be operating under a continuing resolution. In that event, fees paid 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 will remain at their current rates.
Five days after the date of enactment of the Commission's regular fiscal year 2005 appropriation, the Section 6(b) fee rate applicable to the registration of securities, the Section 13(e) fee rate applicable to the repurchase of securities, and the Section 14(g) fee rate applicable to proxy solicitations and statements in corporate control transactions will decrease from the current rate of $126.70 per million to $117.70 per million, as previously announced.
In addition, thirty days after the date of enactment of the Commission's regular appropriation, the Section 31 fee rate applicable to securities transactions on the exchanges and Nasdaq will increase from the current rate of $23.40 per million to $32.90 per million, as previously announced.
Additional information on the transition to the new Section 31 fee rate will be available before the new rate becomes effective on the web sites of The New York Stock Exchange and NASD Regulation at http://www.nyse.com and http://www.nasdr.com.
A copy of the Commission's April 30, 2004, order regarding fee rates for fiscal year 2005 is available at http://www.sec.gov/news/press/2004-59.htm.
The Commission will issue further notices as appropriate to keep the public informed of developments relating to enactment of the Commission's regular appropriation and the effective dates for the above fee rate changes. These notices will be posted at the SEC's Internet web site at http://www.sec.gov.