115 STAT. 2390 PUBLIC LAW 107-123-JAN. 16, 2002 Public Law 107-123 107th Congress An Act Jan. 16, 2002 To amend the Securities Exchange Act of 1934 to reduce fees collected by the [H.R. 1088] Securities and Exchange Commission, and for other purposes. Be it enacted by the Senate and House of Representatives of Investor and the United States of America in Congress assembled, Capital Markets Fee Relief Act. SECTION 1. SHORT TITLE. ano. rpj^g ^^^ j^^y i^g cited as the "Investor and Capital Markets Fee Relief Act". SEC. 2. IMMEDIATE TRANSACTION FEE REDUCTIONS. Section 31 of the Securities Exchange Act of 1934 (15 U.S.C. 78ee) is amended— (1) by striking "Vaoo of one percent" each place it appears in subsections (b) and (d) and inserting "$15 per $1,000,000"; (2) by striking "and security futures products" each place it appears in such subsections and inserting "security futures products, and options on securities indexes (excluding a narrowbased security index)"; (3) in the first sentence of subsection (b), by striking ", except that" and all that follows through the end of such sentence and inserting a period; (4) in paragraph (1) of subsection (d), by striking ", except that" and all that follows through the end of such paragraph and inserting a period; (5) in subsection (e), by striking "$0.02" and inserting "$0,009"; and (6) by adding at the end the following new subsection: "(i) PRO RATA APPLICATION. —The rates per $1,000,000 required by this section shall be applied pro rata to amounts and balances of less than $1,000,000.". SEC. 3. REVISION OF SECURITIES TRANSACTION FEE PROVISIONS; ADDITIONAL FEE REDUCTIONS. (a) POOLING AND ALLOCATION OF COLLECTIONS. —Section 31 of the Securities Exchange Act of 1934 (15 U.S.C. 78ee) is further amended— (1) in subsection (b)— (A) by striking "Every" and inserting "Subject to subsection (j), each"; and (B) by striking the last sentence; (2) by striking subsection (c); (3) in subsection (d)— (A) by striking paragraphs (2) and (3); (B) by striking the following:
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