Reuters

U.S. SEC adopts rule on filing fee disclosure and payment methods

The U.S. Securities and Exchange Commission (SEC) on Wednesday said it voted to adopt a rule modernizing the process for paying filing fees when operating and investment companies engage in certain transactions, including registered securities offerings, tender offers, and mergers and acquisitions. The SEC amendments, which generally become effective on Jan. 31, 2022, with some updates phased in over the coming years, would also require filers to present the information required for filing fee calculation in a separate interactive format known as Inline eXtensible Business Reporting Language (XBRL), the agency said. It added that the changes would improve filing fee preparation and payment processing by increasing the speed, accuracy and usability of financial disclosure, and eventually reduce costs.

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