On August 31, 2011, the Securities and Exchange Commission announced a slight reduction in the filing fees to be paid by public companies and other issuers effective October 1, 2011. The filing fee rate will decrease to $114.60 per million from the current rate of $116.10 per million for: (i) the registration of securities under Section 6(b) of the Securities Act of 1933, (ii) the repurchase of securities in going private transactions pursuant to Section 13(e) of the Securities Exchange Act of 1934, (iii) certain proxy solicitations and statements in corporate control transactions pursuant to Section 14(g) of the Exchange Act and (iv) the payment of fees in connection with the Annual Notice of Securities Sold Pursuant to Rule 24f-2 under the Investment Company Act of 1940. This reduction in the filing fee rate should be considered when planning the timing of transactions and offerings, and the filing of registration statements during the next several weeks. 

Unlike in previous years when the effective date of a fee change could vary, the Dodd-Frank Wall Street Reform and Consumer Protection Act requires that the fee change take effect on the first day of the government’s fiscal year, which is October 1.

New filing and transaction fee rates for the SEC’s 2013 fiscal year will be announced by August 31, 2012, and the rates could be higher or lower than the fee rates adopted for the 2012 fiscal year.

If you have any questions about the issues raised in this Legal Update, please contact the author, Michael L. Hermsen at +1 312 701 7960.

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