Big SEC Filing Fee Hike to (Finally) Become Effective Later Today!
Yesterday, President Obama signed a continuing resolution that will fund the SEC for two more months. In an unusual twist, this resolution states that it is deemed to be the SEC's "regular appropriation" for fiscal year 2011. Thus, it will trigger changes in the fee rates as noted in this SEC press release.
As a result, effective December 27th, the filing fee rate applicable to the registration of securities will increase from $71.30 to $116.10 per million dollars, a 63% hike as I blogged back when it was first announced. Since tomorrow is a federal holiday - and the SEC is closed - this filing fee hike takes effect after 5:30 pm eastern today (except filings pursuant to Rule 462(b) get the current rate until 10:00 pm eastern).
To track Santa Claus on his travels, you may wish to try the following:
- Broc Romanek