Sunshine Act Meeting, 41080 [2017-18350]
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41080
Federal Register / Vol. 82, No. 166 / Tuesday, August 29, 2017 / Notices
disapprove, the proposed rule change
(File No. SR–BatsEDGX–2017–29).
SECURITIES AND EXCHANGE
COMMISSION
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Eduardo A. Aleman,
Assistant Secretary.
[Release Nos. 33–10407; 34–81476/August
24, 2017]
[FR Doc. 2017–18241 Filed 8–28–17; 8:45 am]
I. Background
The Commission collects fees under
various provisions of the securities
laws. Section 6(b) of the Securities Act
of 1933 (‘‘Securities Act’’) requires the
Commission to collect fees from issuers
on the registration of securities.1 Section
13(e) of the Securities Exchange Act of
1934 (‘‘Exchange Act’’) requires the
Commission to collect fees on specified
repurchases of securities.2 Section 14(g)
of the Exchange Act requires the
Commission to collect fees on specified
proxy solicitations and statements in
corporate control transactions.3 These
provisions require the Commission to
make annual adjustments to the
applicable fee rates.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
sradovich on DSK3GMQ082PROD with NOTICES
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a closed meeting
on Thursday, August 31, 2017 at 2 p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the closed meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (a)(5), (a)(7),
(a)(9)(ii) and (a)(10), permit
consideration of the scheduled matters
at the closed meeting.
Commissioner Piwowar, as duty
officer, voted to consider the items
listed for the closed meeting in closed
session.
The subject matters of the closed
meeting will be:
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings;
Adjudicatory matters;
Resolution of litigation claims; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed; please
contact Brent J. Fields from the Office of
the Secretary at (202) 551–5400.
Dated: August 24, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017–18350 Filed 8–25–17; 11:15 am]
BILLING CODE 8011–01–P
6 17
CFR 200.30–3(a)(31).
VerDate Sep<11>2014
18:45 Aug 28, 2017
Jkt 241001
Order Making Fiscal Year 2018 Annual
Adjustments to Registration Fee Rates
II. Fiscal Year 2018 Annual Adjustment
to Fee Rates
Section 6(b)(2) of the Securities Act
requires the Commission to make an
annual adjustment to the fee rate
applicable under Section 6(b).4 The
annual adjustment to the fee rate under
Section 6(b) of the Securities Act also
sets the annual adjustment to the fee
rates under Sections 13(e) and 14(g) of
the Exchange Act.5
Section 6(b)(2) sets forth the method
for determining the annual adjustment
to the fee rate under Section 6(b) for
fiscal year 2018. Specifically, the
Commission must adjust the fee rate
under Section 6(b) to a ‘‘rate that, when
applied to the baseline estimate of the
aggregate maximum offering prices for
[fiscal year 2018], is reasonably likely to
produce aggregate fee collections under
[Section 6(b)] that are equal to the target
fee collection amount for [fiscal year
2018].’’ That is, the adjusted rate is
determined by dividing the ‘‘target fee
collection amount’’ for fiscal year 2018
by the ‘‘baseline estimate of the
aggregate maximum offering prices’’ for
fiscal year 2018.
Section 6(b)(6)(A) specifies that the
‘‘target fee collection amount’’ for fiscal
1 15
U.S.C. 77f(b).
2 15 U.S.C. 78m(e).
3 15 U.S.C. 78n(g).
4 15 U.S.C. 77f(b)(2). The annual adjustments are
designed to adjust the fee rate in a given fiscal year
so that, when applied to the aggregate maximum
offering price at which securities are proposed to
be offered for the fiscal year, it is reasonably likely
to produce total fee collections under Section 6(b)
equal to the ‘‘target fee collection amount’’ specified
in Section 6(b)(6)(A) for that fiscal year.
5 15 U.S.C. 78m(e)(4) and 15 U.S.C. 78n(g)(4).
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
year 2018 is $620,000,000. Section
6(b)(6)(B) defines the ‘‘baseline estimate
of the aggregate maximum offering
prices’’ for fiscal year 2018 as ‘‘the
baseline estimate of the aggregate
maximum offering price at which
securities are proposed to be offered
pursuant to registration statements filed
with the Commission during [fiscal year
2018] as determined by the
Commission, after consultation with the
Congressional Budget Office and the
Office of Management and Budget . . .
.’’
To make the baseline estimate of the
aggregate maximum offering price for
fiscal year 2018, the Commission is
using a methodology that has been used
in prior fiscal years and that was
developed in consultation with the
Congressional Budget Office (‘‘CBO’’)
and Office of Management and Budget
(‘‘OMB’’).6 Using this methodology, the
Commission determines the ‘‘baseline
estimate of the aggregate maximum
offering price’’ for fiscal year 2018 to be
$4,981,648,951,511. Based on this
estimate, the Commission calculates the
fee rate for fiscal 2018 to be $124.50 per
million. This adjusted fee rate applies to
Section 6(b) of the Securities Act, as
well as to Sections 13(e) and 14(g) of the
Exchange Act.
III. Effective Dates of the Annual
Adjustments
The fiscal year 2018 annual
adjustments to the fee rates applicable
under Section 6(b) of the Securities Act
and Sections 13(e) and 14(g) of the
Exchange Act will be effective on
October 1, 2017.7
IV. Conclusion
Accordingly, pursuant to Section 6(b)
of the Securities Act and Sections 13(e)
and 14(g) of the Exchange Act,8
It is hereby ordered that the fee rates
applicable under Section 6(b) of the
Securities Act and Sections 13(e) and
14(g) of the Exchange Act shall be
$124.50 per million effective on October
1, 2017.
6 Appendix A explains how we determined the
‘‘baseline estimate of the aggregate maximum
offering price’’ for fiscal year 2018 using our
methodology, and then shows the arithmetical
process of calculating the fiscal year 2018 annual
adjustment based on that estimate. The appendix
includes the data used by the Commission in
making its ‘‘baseline estimate of the aggregate
maximum offering price’’ for fiscal year 2018.
7 15 U.S.C. 77f(b)(4), 15 U.S.C. 78m(e)(6) and 15
U.S.C. 78n(g)(6).
8 15 U.S.C. 77f(b), 78m(e) and 78n(g).
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[Federal Register Volume 82, Number 166 (Tuesday, August 29, 2017)]
[Notices]
[Page 41080]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-18350]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a closed meeting on Thursday, August
31, 2017 at 2 p.m.
Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the closed meeting.
Certain staff members who have an interest in the matters also may be
present.
The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii) and (a)(10), permit
consideration of the scheduled matters at the closed meeting.
Commissioner Piwowar, as duty officer, voted to consider the items
listed for the closed meeting in closed session.
The subject matters of the closed meeting will be:
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Adjudicatory matters;
Resolution of litigation claims; and
Other matters relating to enforcement proceedings.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
For further information and to ascertain what, if any, matters have
been added, deleted or postponed; please contact Brent J. Fields from
the Office of the Secretary at (202) 551-5400.
Dated: August 24, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017-18350 Filed 8-25-17; 11:15 am]
BILLING CODE 8011-01-P
