Subject: File No. 265-28
From: Robert D Gulliver, II
Affiliation: Mathematics Professor, Univ. of Minnesota

May 5, 2016

It is imperative to allow financial consumers to see the amount of fees with which their accounts are depleted. The current popularity of ETFs, for example, shows the great concern of investors about fees. But we are currently deprived of knowing the amount being deducted. This policy must end