October 10, 1994
TO: BOARD OF GOVERNORS NO. 104-94
FEDERAL LEGISLATION COMMITTEE NO. 33-94
FEDERAL LEGISLATION MEMBERS NO. 31-94
RE: CONGRESS APPROVES SEC FUNDING
__________________________________________________________
On October 8, 1994, the Senate approved and cleared for the
President's signature House-passed legislation (H.R. 5060) to
fund the Securities and Exchange Commission by keeping
registration fees at a level of 1/29 of 1% from October 1, 1994
through September 30, 1995. (This was the level of these fees
during the previous fiscal year.) The additional revenues
provided in H.R. 5060 will permit the SEC to operate at the level
envisioned in the President's Budget for the current fiscal year.
(See Federal Legislation Members Memorandum No. 26-94, dated
September 22, 1994.)
Please call me or the Legislative Affairs Department
(202/326-5890) if you wish further information.
This memo can be found on FUNDS, the Institute's Fund User
Network and Delivery System, under "Legislative Affairs;
Washington Update."
Matthew P. Fink
President