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U.S. Securities and Exchange Commission

Fee Rate Advisory #1 for Fiscal Year 2012


Washington, D.C., May 2, 2011 – The Securities and Exchange Commission today announced that, if a regular appropriation to the Commission for fiscal year 2012 is enacted on or before Oct. 1, 2011, the fees rates applicable to most securities transactions will decrease from $19.20 per million dollars to $15.10 per million dollars in fiscal year 2012. The new fee rates will go into effect on the later of Oct. 1, 2011 or 30 days after the appropriation is enacted. 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 (Exchange Act). Accordingly, the Commission consulted with both the Congressional Budget Office and the Office of Management and Budget regarding the annual adjustment. These adjustments do not affect the amount of funding available to the Commission. A copy of the Commission’s order issued April 29, including the calculation methodology, is available at: http://www.sec.gov/rules/other/2011/34-64373.pdf.

If a regular appropriation to the Commission for fiscal year 2012 is not enacted by Oct. 1, 2011, the new fee rates announced in this advisory will not go into effect, and the Commission will be required to issue revised fee rates in accordance with the amendments to Section 31 of the Exchange Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act. In that event, the revised fee rates for fiscal year 2012 will be published 30 days after the appropriation is enacted and become effective 60 after the appropriation is enacted.

The Office of Interpretation and Guidance in the Commission’s Division of Trading and Markets is available for questions on Section 31 at (202) 551-5777 or by e-mail at tradingandmarkets@sec.gov.

The Commission will issue further notices as appropriate to keep the public informed of developments relating to the effective dates of the fee rates under Section 31. These notices will be posted at the SEC’s website.

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Modified: 05/02/2011