Subject: File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
From: Frederick Siedenburg

June 15, 2018

Securities and Exchange Commission

To the and Exchange Commission,

After multiple exposures of irresponsible, bordering on flagrant abuse of the trust in our financial institutions, Americans demanded protections against predatory investment, financial and lending practices targeting consumers.

Over the past several years protections we implemented to protect consumers, especially senior's retirement savings.  These included rules that ensured that financial advisors act in the best interest of investors and not what provides the advisor with the highest commissions etc. They are having a POSITIVE affect!

Now the protections are being systematically eroded.  The result will be that Americans end up in riskier investments with higher fees and lower returns  and Wall Street makes billions.

I'm counting on you to make a stronger rule that closes the loophole in the rules makes it legal for some bad financial advisers to invest senior's savings based on what's best for THEIR pocketbooks.  Please ensure the rules continue to protect consumer's, especially senior's retirement savings and ensure that those who provide Americans with financial services are held accountable for choosing investments that are best for the client.  Make these rules "MEASURABLE, ENFORCEABLE and with CONSEQUENCES" for failing to provide financial advice in the best interest of the consumer!

Americans who've worked hard to save for retirement deserve peace of mind about their financial security.


Mr. Frederick Siedenburg