August 24, 2010
This is an issue that I hope you will settle in favor of investors.
I urge the SEC to adopt a fiduciary standard for all investment professionals who offer financial advice. Investors deserve advice that puts their interests first. Why should brokers be held only to a suitability standard when investment advisers are held to the higher fiduciary standard? Shouldn't each investment professional adhere to the same standard?
Every investor should be able to invest with confidence, knowing that the advice he is getting is in his best interest. Now is the time to restore faith in our markets and system. Please make this change to protect American investors. I thank you for your time.