Lyndon B. Johnson photo

Statement by the President Upon Signing Bill Increasing Fees for Registration of New Securities Offerings.

October 22, 1965

IN MY Budget Message to the Congress last January, I said that, in justice to all our taxpayers, those who enjoy special benefits should bear a fair share of the costs.

In keeping with that principle I have just signed into law an amendment to the Securities Act of 1933, increasing the fees paid for registration of new securities offerings with the Securities and Exchange Commission.

The increase is a modest one when compared to the benefits enjoyed by the thousands of investors who are protected by our securities laws. These are the same persons who, in the long run, will bear the burden of the increased fees.

The new law increases the registration fee from 10 cents per $1,000 of securities registered to 20 cents per $1,000, and increases the minimum fee from $25 to $100.

This is the first increase in registration fees since the original Securities Act became law in 1933. It is estimated that the bill will increase by about $1.8 million the fees collected by the Commission. The effect of the new fee schedule will be to place on a self-supporting basis the Commission's function of examining registration statements.

Note: As enacted, the bill to amend the Securities Act of 1933 with respect to certain registration fees (H.R. 7169) is Public Law 89-289 (79 Stat. 1051).

Lyndon B. Johnson, Statement by the President Upon Signing Bill Increasing Fees for Registration of New Securities Offerings. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/241164

Simple Search of Our Archives