July 26, 2017
Securities and Exchange Commission,
When investors act in a predatory manner toward their clients to enrich their company and self interests in fraudulent ways, there must be legal consequences.
I urge the Securities and Exchange Commission to adopt new rules, modeled on the Department of Labor’s rule for retirement investment advice, requiring brokers to act in their customers’ best interests and requiring firms to reduce conflicts that undermine that standard. Investors don’t need more boilerplate disclosures, they need real protections from industry practices that put their financial well-being at risk.