From: Robert E. Rutkowski
Sent: July 25, 2016
To: rule-comments@sec.gov
Subject: File No. S7-07-16

Brent J. Fields, Secretary
SEC Headquarters
100 F Street, NE
Washington, DC 20549
(202) 942-8088
e-mail: rule-comments@sec.gov
Re: Notice of Proposed Rulemaking on Incentive Based Compensation Arrangements

Dear Secretary:

Americans for Financial Reform commented on the above referenced Proposed Notice of Proposed Rulemaking (the “Proposal”) issued by the Federal Reserve, FDIC, FHFA, NCUA, OCC, and SEC (the “Agencies”)... Section 956 is a particularly significant and vital element of the Dodd-Frank Act. There is widespread agreement among students of the 2008 financial crisis that the design of bonus pay was a central contributor to the crisis.

Re: Full comments:
http://ourfinancialsecurity.org/2016/07/letter-regulators-afr-provides-comments-regulators-controlling-wall-street-bonuses/

Seriously consider the comments set forth.

Thank you for the opportunity to bring these remarks to your attention.

Yours sincerely,
Robert E. Rutkowski

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