What is the corporate action fee and what is considered a corporate action?

There is a $30 mandatory corporate action fee. A mandatory corporate action is one where the company’s board of directors takes a decision affecting the shareholders without requiring shareholder approval. Mandatory corporate actions include stock splits and mergers and acquisitions. Voluntary corporate actions have a $50 fee and these include tender offers, optional dividends and rights issues. Shareholders usually elect to participate in voluntary corporate actions.