Subject: File No. S7-35-11
From: Paul R Girouard
Affiliation: Investor

September 1, 2011

Just briefly. A great many Americans have been successfully investing in mRIETS for a great many years. The proposed rule-making as described does not "protect investors", as it will substantially reduce the value of their holdings, and diminish returns many retired individuals depend upon. My comment is intended to object to, and urge rejection of, the proposed rule making.