Subject: File No. S7-09-18
From: Kaitlyn Long
Affiliation: International Brotherhood of Teamsters

April 25, 2018

I believe financial advisers in the U.S. absolutely need to be held to a fiduciary standard. Anything less is inadequate. Regulators need to be reminded that there are almost no safeguards for American retirement accounts. Holding financial advisers to a fiduciary standard would be one step toward creating some safeguards for American retirement. Social Security is not enough, and even that is being attacked by some right-wing lawmakers. Pensions are sadly rare these days, so a personal retirement account is all that there is to protect many Americans from financial ruin in their later years. Retirees in America need to have some safeguards for their retirement. As it stands, too many U.S. citizens are robbed by financial advisers and their bad advice.