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To: rkral who wrote (121175)7/2/2002 4:36:31 PM
From: Art Bechhoefer  Respond to of 152472
 
OT--Ron, the SEC gets filing fees for every submission, whether a shelf registration, prospectus, Form 4, etc. My understanding is that they took in $1.4 billion in fees last year. Their enabling legislation allows them to spend what they take in fees for enforcement operations. $1.4 billion is considerably larger than the budget for the whole agency, much less the enforcement division.

Art


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