Subject: File No. 4-606
From: Lawrence J. Ganim

August 6, 2010

I am opposed to applying a ficuciary standard on Registered Reps

The suitability standard governing broker-dealers and registered representatives is a robust and heavily enforced standard.

If you make it even more difficult to operate effectively as a small business you can put us out of business and cost thousands of job losses.

The cost of the existing compliance regimen is much for a small business to absorb much less adding additional unnecessay compliance and risk associated with funcioning in our industry.

99.9% of professionals in our industry are honest and look out of the best interest of the client. Don't overregulate the honest professionals and push us out of business to attempt to control the few dishonest individuals. You will only be left with those dishonest folks who don't care about compliance.

Thank You for your consideration.