Subject: File No. 4-606
From: Randy Richter

August 12, 2010

I have been a financial advisor for over 14 years. I have seen suitability standards increase every year. Mostly because of better systems in place with broker dealers. These new systems are better able to monitor these strandards through systems already in place.
I believe the current regulations already provide strong and appropriate safeguards for consumers. Suitability standards are already stringent. I believe if you hold securities reps to some new legal fiduciary duty or new strandars that low and middle income investors will be left without advisors because of the risk of being sued.
I am already paying $350 per month for errors and emissions insurance. I have never had a claim but I,m sure my premium will increase regardless of claim history the same as my health insurance has increased because of the additional services my insurance company is now providing as required by Omama care. I have already discussed raising my fees with some of my clients. I encouraged them to post comments.