June 16, 2018
Securities and Exchange Commission
To the and Exchange Commission,
For too long so called financial advisors have been getting rich off the backs of normal people trying to invest in sound investments.
However this plan has grave holes it it because the advisors can give advice the financial advisor instead of the people wanting to invest!
The Republican's have just voted to take the protections away - this consumer bill was created after the 2008 crash with the assistance from Elizebeth Warren.
The SEC's Investor Advisory Committee needs to make sure the final rule does two things: clearly define the standard of conduct for investment professionals as a "fiduciary standard" -- meaning they put their clients' interests first -- and provide investors with clear, effective disclosure forms.
I'm counting on you to make a stronger rule that closes the loophole.
Americans who've worked hard to save for retirement deserve peace of mind about their financial security.
Sincerely,
Mr. tlaloc tokuda