On August 25th, the SEC announced that fee rates applicable to most securities transactions will be set at $138.10 per million dollars on October 1, 2025. This represents a decrease from $153.10 per million dollars during the previous fiscal year. The upcoming fee rate will be applied to the registration of securities under Section 6(b) of the Securities Act of 1933, the repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934, and proxy solicitations and specified tender offers under Section 14(g) of the Securities Exchange Act of 1934.
In accordance with the securities laws, the SEC is required to make yearly modifications to the rates for fees paid under Section 6(b) of the Securities Act of 1933, which also modifies the annual fee rates under Sections 13(e) and 14(g) of the Securities Exchange Act of 1934 as well as Rule 24f-2 under the Investment Company Act of 1940. The SEC is required to set rates for fees paid under Section 6(b) to levels that the SEC projects will generate collections equal to annual statutory target amounts. The SEC’s projections are determined by using a process jointly developed with the Office of Management and Budget and the Congressional Budget Office. The SEC determined the statutory target amount for fiscal year 2026 to be $887,800,554 by adjusting for the rate of inflation the fiscal year 2025 target collection amount of $864,721,147.
For further details, see the Order Making Fiscal Year 2026 Annual Adjustments to Registration Fee Rates on the SEC’s website. The SEC will publish additional notices on sec.gov to keep the public apprised of developments relating to fees.
Sources:
Section 6(b) Filing Fee Rate Advisory for Fiscal Year 2026 (sec.gov)
Order Making Fiscal Year 2026 Annual Adjustments to Registration Fee Rates (sec.gov)
