Subject: File No. 4-606
From: Luis R Reinking, CFA, MBA

March 27, 2013


A "Fiduciary" should be one who CAN and does put client's interest ahead of his/her own, without ANY constraints.

This automatically excludes ANYONE with a CONFLICT of INTERESTS (a fund/product to sell, a loan to maximize, etc.) with his/her clients.
Bankers regularly sell bonds, from the bank's own account, into the client's portfolios... this should be made illigal Worse, the "mark-up" is hidden or not disclosed.

Please protect the investing public from predatory practices that are common in the industry

Best regards,