SEC Modernizes Filing Fee Rules

On October 13, 2021, the U.S. Securities and Exchange Commission adopted final rules that amend several fee-bearing forms, schedules, statements and related rules to modernize filing fee disclosure and payment methods for securities transactions. The amendments, which will require each filing fee table and related disclosure to be filed as an exhibit in a structured format, will add options for fee payment via Automated Clearing House (ACH) and debit and credit cards, and eliminate fee payments by paper checks and money orders. The SEC first proposed the amendments on October 24, 2019. These amendments are effective on January 31, 2022, but will be phased in throughout transition periods as further discussed below.