Subject: File No. 4-606
From: Barbara Cook

August 12, 2010

I do not agree with the proposed legislation to adhere to a fiduciary standard for an investment professional.
Suitability standards currently governing broker-dealers and registered representatives are already stringent and heavily enforced. Current regulations already provide strong and appropriate consumer safeguards.

Requiring compliance with 'fiduciary standards' will drive many advisers out of the market and eliminate a valuable advisory resource to consumers, especially in middle- and lower-income markets.

Additional risk of lawsuits involving registered representatives will increase costs to consumers.

Driving every registered representative to fee-only compensation will not necessarily result in better, unbiased advice for the consumer

Do not pass this legislation