Subject: File No. 4-606
From: Michael E Wallace
Affiliation: CLU

July 30, 2010

Regualtions cost money to companies, agents and most of all to CLIENTS. Most agents already take 15-20 hours of mandated CE each year. Securities representatives must take 3-5 more courses on top of the already burdensome requirents. By adding more regulations in the form of more suitabiliity you will be raising the cost of doing busienss thus lowering the future returns on clients retiremtnt accounts. Do no add more burdensome regs to an already burdened agent field force.
Mike Wallace, CLU