Subject: File Number 4-606

August 29, 2010

Re: The Study for Comments for brokers, dealers and investment advisors

I am retired from a major Money Center bank Trust Dept, with 40 + years of experience as an Investment Officer. Today I am a very active investor, using both a "full service" broker, an on-line broker and a investment advisor. I have invested in : equities, preferred stocks, bonds both tax-exempt,US Government, and corporate as well as various derivative contracts, options and warrants. I feel compelled to comment on the standards for security brokers who deal with individual investors are held to today.

My comment is in the form of a suggestion, that individual security brokers have greater standards to be held accountable to,very similar to the New York State Prudent Investor Act EPTL 11-2.3. he link is: http://public.leginfo.state.ny.us/menuegetf.cqi?COMMONQUERY=LWS EPTL 11-2.3.
By adherence to this standard,the individual investor, whould be afforded much more protection than he currently has and the brokers would be held to a more meaningful standard.

Submitted by ;

Mr. HILARY DONEGAN