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

Jun. 22, 2018

Jun 22, 2018

Securities and Exchange Commission

To the and Exchange Commission,

The fudciary rule in ERISA do not inhibit an advisor from telling the
client of investments which may cost more or are riskier it requires
the agent to disclose all matters such as how much more costly it may
be and the possible risk of loosing some or all of the investment. My
father lost over 15,000 many years ago as his trusted advisor put him
in a very bad investment which the advisor said had the potential for
very large gains. Both my dad and the advisor are dead now. I only
learned of it from my mother years after. They were on a fixed income
as are many and the hook that they could increase their income stream
with the investment was something that they were duped in to doing. It
is in the best interest of the many who are less informed to be
protected from those scoundrels. If you do not protect the American
public you are doing a disservice and are unfit for your position.
Bob Rayburn
U.S. Veteran 1963-1967

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. Bob Rayburn