Subject: File No. 4-606
From: Murray E Stewart

July 30, 2010


What ever happened to the old concept in America that we as adults have responsibility for our own actions and decisions. Registered Reps are already highly regulated and have required continued education, etc. This proposed additional level of regulation is one more misguided effort by Washington to be involved in all phases of individuals lives.
As in any profession: medicine, law, politics, and securities there are always a few bad apples but there are already ample state and federal laws in place to deal with them.
Look at the mess over regulation has made of modern medicine in America where medical providers are doing billions of dollars on unneeded tests to practice defensive medicine. Please do not turn the securities industry into the same plight medicine is in today.
Respectfully yours,

Murray E. Stewart