The following Letter Type A, or variations thereof, was submitted by individuals or entities.
Letter Type A:
Securities and Exchange Commission
To the and Exchange Commission,
Millions of Americans like me are counting on our IRAs, 401(k)s and other retirement accounts for a secure financial future and we've worked hard to build and grow our savings.
We should be able to trust our financial advisers to put our interests first. But loopholes in the current law make it easy for many advisers to take advantage of hard-working Americans and line their own pockets with our retirement savings.
Hidden fees and bad advice costs Americans billions of dollars every year, and we deserve better.
Close this loophole and ensure a higher standard than the currently proposed rule. Hold anyone who gives financial advice genuinely accountable for helping everyday Americans choose the best investments for us, our families, and our future. We don't need or want a standard that just makes our brokers and bankers richer.
I'm counting on you to make a stronger rule that closes the loophole.