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

Jun. 21, 2018

Jun 21, 2018

Securities and Exchange Commission

To the and Exchange Commission,

I'm counting on you to make a stronger rule that closes the loopholes.
Americans who've worked hard to save for retirement deserve peace of
mind about their financial security  Lost a pension when the company
was bought out. They gave us a small settlement amount approx.
$1400.00. The new company hid an annuity from the employees. About 5
years ago New York state tracked down holders when the insurance
company went bankrupt. Now get less than $100.00 a month. I have three
other annuity policies, which the original company went bankrupt. two
of the 3 have been in a class action lawsuit for over 20 years, no
settlement.used to know people who worked for Reliance insurance. That
company had the employees put all of their pension money in the
company's stock. shortly after the company went bankrupt. some people
had taken second mortgages to but stock. They lost their homes. I
believe a few took their own lives. Because the people who were to
protect us did nothing.



Mr. John Zullo