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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Since when is duplicity a time honored American tradition?  Financial
advice on very complex investments needs to be straight forward and
honest.  Without it, many of us are doomed to losing our life savings
and then depending on the Government for assistance - this is not the
outcome we want.  The financial industry is making plenty of money from
their clients for good advice that benefits the client - no need to
tilt the playing field further to the financiers.

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.


Mr. Anthony Palermo