Subject: File No. 4-606
From: Charles Samfilippo

July 31, 2010

The concept of moving from a suitability standard to a fiduciary standard in dealing with the public will prevent we registered reps from helping clients with smaller amounts of investments. This market will then be underserved.

This legislation will also promote nuisance lawsuits.

The current standards are rigorously enforced and I believe serve the public well.

Charles Samfilippo