SEC's $5.1M DTM Legal Support Contract Awarded to C2 Alaska, LLC Under Full and Open Competition
Contract Overview
Contract Amount: $5,142,219 ($5.1M)
Contractor: C2 Alaska, LLC
Awarding Agency: Securities and Exchange Commission
Start Date: 2022-09-14
End Date: 2026-09-13
Contract Duration: 1,460 days
Daily Burn Rate: $3.5K/day
Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: DIVISION OF TRADING AND MARKETS (DTM) - LEGAL AND ADMINISTRATIVE PROFESSIONAL SUPPORT SERVICES - IPASS 2.0
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20549
Plain-Language Summary
Securities and Exchange Commission obligated $5.1 million to C2 ALASKA, LLC for work described as: DIVISION OF TRADING AND MARKETS (DTM) - LEGAL AND ADMINISTRATIVE PROFESSIONAL SUPPORT SERVICES - IPASS 2.0 Key points: 1. Contract awarded to C2 Alaska, LLC for administrative and legal support services. 2. The contract has a total value of $5,142,219.33 over its duration. 3. Competition method was 'Full and Open Competition After Exclusion of Sources', indicating a competitive process. 4. The sector is primarily administrative and management consulting services, supporting the SEC's trading and markets division.
Value Assessment
Rating: good
The contract's fixed price structure suggests a clear understanding of service scope. Benchmarking against similar administrative support contracts would provide further pricing validation.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The 'Full and Open Competition After Exclusion of Sources' method implies a competitive bidding process was conducted, allowing multiple vendors to participate. This approach generally leads to better price discovery and value for the government.
Taxpayer Impact: The competitive award process aims to ensure taxpayer funds are used efficiently for essential administrative and legal support services.
Public Impact
Ensures continued operational support for the SEC's Division of Trading and Markets. Supports regulatory functions by providing necessary legal and administrative expertise. The contract's duration of approximately four years provides stability for service delivery.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Positive Signals
- Competitive award process
- Fixed price contract type
- Clear service description (Administrative Management and General Management Consulting Services)
Sector Analysis
This contract falls under administrative and management consulting services, a common support function across federal agencies. Spending benchmarks for similar services can vary widely based on scope and agency needs.
Small Business Impact
The data does not indicate if C2 Alaska, LLC is a small business. Further analysis would be needed to determine the impact on small business participation.
Oversight & Accountability
The contract was awarded by the Securities and Exchange Commission, which has established oversight mechanisms for its procurement processes. The 'full and open competition' method suggests a degree of accountability in the award.
Related Government Programs
- Administrative Management and General Management Consulting Services
- Securities and Exchange Commission Contracting
- Securities and Exchange Commission Programs
Risk Flags
- Potential for vendor lock-in over the contract duration.
- Reliance on a single vendor for critical support functions.
- Need for ongoing performance monitoring to ensure service quality.
Tags
administrative-management-and-general-ma, securities-and-exchange-commission, dc, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Securities and Exchange Commission awarded $5.1 million to C2 ALASKA, LLC. DIVISION OF TRADING AND MARKETS (DTM) - LEGAL AND ADMINISTRATIVE PROFESSIONAL SUPPORT SERVICES - IPASS 2.0
Who is the contractor on this award?
The obligated recipient is C2 ALASKA, LLC.
Which agency awarded this contract?
Awarding agency: Securities and Exchange Commission (Securities and Exchange Commission).
What is the total obligated amount?
The obligated amount is $5.1 million.
What is the period of performance?
Start: 2022-09-14. End: 2026-09-13.
What specific legal and administrative tasks are included in the IPASS 2.0 services?
The contract specifies 'Administrative Management and General Management Consulting Services' (NAICS 541611) for the Division of Trading and Markets (DTM). While the exact tasks are not detailed here, they likely encompass a range of support functions such as document management, research, data analysis, administrative assistance, and potentially paralegal support to aid the SEC's regulatory and enforcement activities.
Are there any potential risks associated with relying on a single vendor for these critical support services over a four-year period?
While awarded through competition, a four-year contract with a single vendor carries inherent risks. These include potential vendor lock-in, reduced incentive for innovation or cost reduction over time, and the risk of service disruption if the vendor faces financial or operational difficulties. The SEC should maintain strong contract management and performance monitoring.
How effectively does this contract support the SEC's core mission of market regulation and investor protection?
This contract is designed to provide essential administrative and legal support, freeing up SEC staff to focus on core regulatory and enforcement activities. By ensuring efficient operations within the Division of Trading and Markets, it indirectly contributes to market integrity and investor protection. The effectiveness hinges on the quality of services delivered by C2 Alaska, LLC.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Administrative Management and General Management Consulting Services
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Solicitation Procedures: TWO STEP
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 5253 PRUE RD STE 230, SAN ANTONIO, TX, 78240
Business Categories: 8(a) Program Participant, Alaskan Native Corporation Owned Firm, Category Business, Limited Liability Corporation, Minority Owned Business, Native American Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $12,070,079
Exercised Options: $5,142,219
Current Obligation: $5,142,219
Actual Outlays: $4,325,249
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: 50310221D0010
IDV Type: IDC
Timeline
Start Date: 2022-09-14
Current End Date: 2026-09-13
Potential End Date: 2031-09-13 00:00:00
Last Modified: 2026-04-03
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