May 9, 2016
I am writing to urge you to adopt a requirement that all financial services companies disclose to investors the precise cost of management and investment fees in each quarterly statement.
Disclosure of the cost of administrative/management fees to investors is essential in knowing where their savings are going and in making informed decisions. Investor knowledge of the cost of the multiple fees of different instruments and firms is also essential for a healthy competitive economic environment, which intrinsically benefits firms with quality and cost advantages.
Investors in the U.S. have been undermined and shortchanged for far too long, as evidenced in the recent financial crisis. Please provide some protection for investors while also promoting healthy competition in this industry.
Thank you for your consideration.