Subject: File No. S7-35-11
From: Richard Roll
Affiliation: Retired - formerly with the Florida Office of Financial Regulation

September 7, 2011

To whom it may concern:
I am a retired former examiner from the state of FL. I have been trying to maintain some standard of living by investing in companies that have good balance sheets and high dividend yields, REITS being one segment of my investments. It seems that the SEC is intent on eliminating every investment that provides retirees some measure of reasonable return.
You need to focus your energies towards regulating the hedge funds and computer generated trading which are abusing if not destroying the system.
I seriously doubt that until their abuse is reigned in you will never see the securities markets as a viable alternative to Social Security.
R.A. Roll