Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, The main role of any government is to protect its citizens. One of the ways is to pass laws that require honest and helpful information to be provided by professionals in their various fields of practice. That we have professionals is due to the specialized knowledge required to perform complicated tasks successfully. Giving anyone the ability to abuse their clients legally by not advising their clients of all the ramifications involved in the services they provide is a failure of the governments' prime responsibility to its citizens. Millions of Americans like me are counting on our IRAs, 401(k)s and other retirement accounts for a secure financial future and we've worked hard to build and grow our savings. We should be able to trust our financial advisers to put our interests first. But loopholes in the current law make it easy for many advisers to take advantage of hard-working Americans and line their own pockets with our retirement savings. Hidden fees and bad advice costs Americans billions of dollars every year, and we deserve better. Close this loophole and ensure a higher standard than the currently proposed rule. Hold anyone who gives financial advice genuinely accountable for helping everyday Americans choose the best investments for us, our families, and our future. We don't need or want a standard that just makes our brokers and bankers richer. 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. Thank you for your time and consideration. Sincerely, Mr. BRUCE COUTER