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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

People work hard for decades to raise a family, put their kids through
college or trade school, and prepare for a hopefully long and
satisfying retirement. They should not have to deal with the risk of
getting misleading financial and investment advice from someone who is
only interested in padding their own pockets at the expense of their
clients. That should be fraud, or theft. It certainly is unethical and
immoral. How is it that the laws and regulations of our country with
respect to financial advisors allow them to act in unethical and
immoral ways? Aren't the laws and regulations we live under as
Americans supposed to be protecting us from those predatory individuals
who prey on average working Americans? There shouldn't be a need for
closing a loophole like this if these advisors had any kind of moral
compass, but, unfortunately, it appears that they do not. We have to
make the penalty under the law more painful to them than the reward
they might gain from continuing to use their unethical tactics on
unsuspecting individuals.

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. Richard Kogler