When your own study shows that disclosures do not work to help regular investors make informed decisions, will you move away from a disclosure-based approach in your final rule and just adopt a uniform fiduciary standard for both advisers…

The priorities of these corporations are clear--buying back shares can boost a company's stock price, which can mean even bigger bonuses for corporate executives.

But, we also know that a decade ago, Bernie Madoff was far from the biggest threat to most families.

We need a clear, uniform fiduciary standard for advisers and brokers.

Let me suggest, Mr. Chairman, if it is the same, just use the same words.

A decade ago, the regulators in the Bush administration failed the country, and the price was enormous.

For the proposal to help customers make good decisions, they need first to understand the difference between a broker and an investment adviser.

So one option would simply be to make brokers subject to the same fiduciary standard that investment advisers are subject to, but you did not do that.

As you know, right now investment advisers are subject to what is called a fiduciary standard.

It is your job to worry when the public seems to think there is nothing to worry about.

It is time to question whether it is too easy for companies to buy back their shares.