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U.S. Securities and Exchange Commission

Fee Rate Advisory #5 for Fiscal Year 2011


Washington, D.C., Dec. 22, 2010 — Today the President signed H.R. 3082, the continuing resolution that will fund federal agencies including the Securities and Exchange Commission for approximately two more months.  H.R. 3082 stipulates that it shall be deemed the Commission's "regular appropriation" for FY 2011, and therefore will trigger changes in the rates of fees collected by the SEC.

Accordingly, effective Dec. 27, 2010, 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 increase from their current rate of $71.30 per million dollars to a new rate of $116.10 per million dollars. The Section 6(b) rate is also the rate used to calculate the fees payable with the Annual Notice of Securities Sold Pursuant to Rule 24f-2 under the Investment Company Act of 1940.

All filings submitted to the SEC before 5:30 p.m. ET, and filings pursuant to Rule 462(b) (17 C.F.R. 230.462(b)) submitted to the SEC before 10:00 p.m. ET, on Dec. 23, 2010, will be subject to the current fee rate of $71.30 per million dollars. Rule 462(b) filings submitted after 10:00 p.m. ET, and all other filings submitted after 5:30 p.m. ET, on Dec. 23, 2010, shall be deemed filed as of the next business day, Dec. 27, 2010, under Section 232.13 of Regulation S-T (17 C.F.R. 232.13), and be subject to the new fee rate of $116.10 per million dollars. Filers with questions about the new Section 6(b), Section 13(e), or Section 14(g) fee rates should call the SEC at (202) 551-8900.

In addition, effective Jan. 21, 2011, the Section 31 fee rate applicable to securities transactions on exchanges and over-the-counter markets will increase from its current rate of $16.90 per million dollars in transactions to a new rate of $19.20 per million dollars in transactions. The Section 31 assessment on security futures transactions will remain unchanged at $0.0042 per round turn transaction. The Division of Trading and Markets' Office of Interpretation and Guidance is available for questions relating to Section 31, at (202) 551-5777 or at tradingandmarkets@sec.gov.

Under the Investor and Capital Markets Fee Relief Act, the Commission is required to adjust the filing and securities transaction fee rates on an annual basis to levels the SEC estimates will generate collections equal to numeric targets set in the statute. A copy of the Commission's April 29, 2010, order regarding fee rates for fiscal year 2011 is available at http://www.sec.gov/rules/other/2010/33-9122.pdf.

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Modified: 12/22/2010