SEC Sets Lower Section 31 Fee Rate From 4 April 2026

The US Securities and Exchange Commission said the Section 31 fee rate on covered securities sales will be set at $20.60 per $1 million starting on 4 April 2026. The change comes through the SEC’s annual fee-rate adjustment process, which recalibrates the levy to match the agency’s funding target under the Exchange Act.

For most retail traders, this is not a headline-grabbing rule change. But it is one of those market plumbing details that still matters because brokers and clearing firms typically pass the charge through on sell orders. When the rate moves, the line item tied to regulatory transaction fees moves with it.

The SEC’s order says the new rate was calculated using projected covered sales for the remainder of the fiscal year and a statutory collection target tied to the agency’s 2026 appropriation. In practical terms, the takeaway is simple: the fee remains small on individual tickets, but active equity traders and higher-volume accounts will still want to know when the rate changes.

Why it matters

Section 31 fees are a standard part of US trading costs. They do not change spreads or commissions, but they do affect the total cost of selling stocks and some other covered securities.

What to watch next

Watch broker statements and trade confirmations after 4 April to confirm the new rate is flowing through correctly. The next meaningful change will usually come with the SEC’s next annual advisory cycle.