Fees & Interest

Where did the charge in my activity statement's Fees section for ADR Fee come from?

Various Central Securities Depositories such as the Depository Trust Company (DTC), Euroclear or Clearstream collect custody fees on behalf of ADR agents for DRs which do not pay periodic dividends. The fees are similar to dividends as they have an effective record date, they are deducted by the applicable depository in standard billing and will be passed to accounts which held the ADR on the record date.

On a best-efforts basis, a notification will be sent to holders of ADRs referencing the possibility that the account will be charged an ADR fee of between 0.01-0.03 USD per share at some time in the future.  

The ADR charges, once processed, can be found in the Activity Statement in the Fees section for the date they were posted to your account.

For more information
on the fee, we recommend that you consult the ADR prospectus.

You can also visit the: SEC website's "Investor Bulletin: American Depository Receipts" (scroll down to the "What fees are charged to ADR Investors" section).

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