July 23, 2018
Chairman J. Clayton,
I am writing in favor of the proposed regulations, requiring brokers to act in the interest of their customers. For too long, the industry has allowed, and at times, encouraged activity that supports the brokers and their firms interests, before the customer.
Fiduciary responsibility to the customer should be the goal in all broker activity. Company contests and incentives for brokers can encourage investments into specific services or investments, that may not be in the best interest of the customer. Disclosure of all fees and information material to the broker's relationship when making a recommendation, will help the customer understand any potential conflicts.
The proposed rule addresses many of the practices that rob investors of their hard earned money. The industry needs to become transparent and trustworthy.
Thank you for the opportunity to submit my comments.
Sincerely,
Susan Shigenaga