Recently, one of my holdings underwent a reverse split. I was surprised (but not all that surprised) that there was an additional fee of $20.00 assessed, labeled as a "reorganization fee". This was assessed by the company whose stock had undergone the split, not the brokerage.
I'm assuming that this fee is to handle all of the paperwork involved in reissuing shares, etc., but there is no indication of this. Where is this money going?