New Increased SEC Filing Fee Rate Effective October 1, 2019

On August 23, 2019, the Securities and Exchange Commission (the “SEC”) announced that in its fiscal year 2020 the fees that public companies and other issuers pay to register their securities with the SEC will be set at $129.80 per million dollars.  The new SEC filing fee rate will be effective on October 1, 2019. The fee is calculated by multiplying the aggregate offering amount by .0001298 (Filing Fee = Maximum Aggregate Offering Price x Fee Rate). Fees are collected for (a) the registration of securities pursuant to the Securities Act, (b) the repurchase of securities, proxy solicitations, tender offers, and certain other transactions pursuant to the Exchange Act, and (c) annual filings by investment companies pursuant to the Securities Act and the Investment Company Act. 

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