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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Years ago when my late husband had inherited some money we asked a
brokerage firm to help us invest the money for our retirement. We were
encouraged to invest in certain stocks. They lost value and then were
assured that we could make up our loss if we invested in other stocks.
The losses continues until we lost most. In talking to friends we found
out that we were the victims of "churning" and encouraged to
get a lawyer.  The lawyer helped us get some of our money back and he
found that the firm had invested in loosing stocks and pushed it's
brokers to unload them on unsuspecting clients.

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.


Pamela Fiani


Mrs. Pamela Fiani