Oct. 19, 2023
Dear SEC, I am writing to express my concerns regarding the proposed rule "Safeguarding Advisory Client Assets" and its inadequate consideration of the importance of personal responsibility in investment decisions. While I understand the need to enhance investor protections and address gaps in the custody rule, it is essential to recognize the role that investors themselves play in safeguarding their assets. Investment decisions are a personal responsibility, and investors should be encouraged to take an active role in understanding and managing the risks associated with their investments. Imposing excessive regulatory requirements on investment advisers without promoting investor education and personal responsibility can create a false sense of security and discourage investors from taking an active interest in their own financial well-being. Instead of solely relying on regulatory measures, it is crucial to empower investors with knowledge and resources to make informed investment decisions. Educating investors about the risks and responsibilities associated with their investments, including the importance of conducting due diligence and staying updated on market trends, can go a long way in safeguarding their assets. Furthermore, promoting transparency and accessibility of information allows investors to assess the credibility and integrity of investment advisers. By providing clear and concise disclosures, as well as ensuring easy access to relevant information, investors can make well-informed decisions and protect their assets. In conclusion, while enhancing investor protections is essential, it is equally important to emphasize the role of personal responsibility in investment decisions. By promoting investor education, transparency, and accessibility of information, the SEC can empower investors to make informed choices and safeguard their assets effectively. Thank you for considering my comments. Sincerely, Andrew Walker