April 23, 2015
Rule or Regulation regarding services and fees (dollar amount)deducted from investor accounts without a statement and documentation of these fees on a quarterly and annual report.
EXAMPLE: Honeywell Savings and Ownership Plan December 31, 2014, page 3, number 5.
"These fees are deducted from a Plan Account but they are not disclosed or noted on a Participant's Plan Account Statement., Rather,these fees are deducted from a Plan Account and are reflected in the net asset value of the investments."
I cannot believe the SEC would allow a financial institution this practice. Please investigate this practice and develop a rule or regulation to protect all investors.
Thank you,
Del Voss