SEC Sets Section 31 Transaction Fee Rate to $0.00 per Million for Remainder of FY 2025

The U.S. Securities and Exchange Commission (SEC) announced today that, effective May 14, 2025, the fee rate for most securities transactions under Section 31 of the Securities Exchange Act of 1934 will be set to $0.00 per million dollars.

This adjustment follows the SEC’s determination that it has already collected its full fiscal year 2025 appropriation. Under Section 31, the agency is required to adjust fee rates to ensure total collections align precisely with its annual appropriation from Congress.

Until May 13, 2025, self-regulatory organizations (SROs) will continue paying the existing rate of $27.80 per million dollars for covered sales. Starting May 14, that rate drops to $0.00 and will remain in effect until 60 calendar days after the enactment of the fiscal year 2026 appropriation legislation, at which time a new rate will be established.

Importantly, this change does not impact the SEC’s funding levels, as it reflects a procedural adjustment tied to previously authorized funding totals.

The assessment on security futures transactions will remain unchanged at $0.0042 per round turn transaction.

Market participants are advised to refer to Rule 31(a)(3) and Exchange Act Release No. 49928 for a detailed definition of the term “charge date,” which determines when a transaction becomes subject to the fee.

To find out more details please visit : https://www.sec.gov/