Commentary

Sachin Barot
Traders Magazine Online News

Cannabis Corner: Part 2 - Cannabis in America – A Winding Journey

In this second part of our exclusive Cannabis Corner series, CERESLabs Barot delves into the beginnings of the cannabis market in the US, then onto its criminalization and to the present where its rapidly becoming legal.

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February 1, 2003

The Latest on Section 31(a)

By Gregory Bresiger

Now it will be sometime in the next two months when the Section 31(a) fee is expected to be cut, according to SEC and securities industry officials.

"It should happen by March," said a spokesman for the Securities Industry Association. That's when lawmakers will finally have straightened out the SEC's budget - they still hadn't passed a budget for the agency by the end of last year - and when SEC officials will then be able to figure out how much the tax can be cut.

The fee, which is solely designed to fund some of the costs of the SEC, recently was at $30.10 per one million dollars, which traders have complained is far higher than it should be. Many are hoping that the rate could be dropped to about $25.