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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Why on earth should any investment adviser NOT be required to put the
interests of the people whose money they're investing first?  Trust me,
the advisers will still make plenty of money without misleading or
abusing the trust of their clients.

Having taught business ethics for many years, I don't see why a
fiduciary clause -- with enforceable rules -- would not be an obvious
necessity in a just society. I'm counting on you to make a stronger
rule that closes the loophole. Americans who've worked hard to save for
retirement deserve peace of mind about their financial security.


Dr. Kenneth Beals