Further Extension of Current SEC Section 31 Fee Rate


 

December 1, 2003

 

NASD would like to notify its members that on November 24, 2003, the Securities and Exchange Commission (the "Commission") issued Fee Rate Advisory #6. The Advisory states that the continuing resolution funding the Commission for fiscal 2004 has been extended further through January 31, 2004. During this period, the Section 31 Fee will remain at its current rate of $46.80 per million.

 

The Advisory also states that, thirty days after enactment of the Commission's regular fiscal year 2004 appropriation, the Section 31 fee rate applicable to securities transactions on the exchanges, NASD and Nasdaq will be reduced from the current rate of $46.80 per million to $39.00 per million, as previously announced.

 

NASD will post an advisory on its Web Site once the Commission’s appropriation has been approved and a final date has been determined for the implementation of the rate change.

 

If you have questions about this Member Alert, please contact Rob Renner, NASD Director of Accounting Operations, at (240) 386-5303.