Subject: File No. 4-606
From: Phil . Weimmer
Affiliation: NAP

August 6, 2010

This piece of regulation is totally misguided and will place a burden on all small investors and small firms. The SEC needs to police it's own ranks and could learn from the honesty amd integrity that the independent advisers throughout America possess. Does over regulation make people more honest? Does over regulation reduce investment costs? Compliance has become more stifling to business every year. At a certain point all of the small independents will be driven out of business and there will be no competition against the large BD where the problems were started.
This is the wrong approach amd perception that independent advisers have a greater protection allowed them than the standards which govern the BD. Both the BD and advisers are
required to take continuing education and training every year at their cost. Back down this proposed regulation which will destroy and ruin many small advisors who service the rural areas of our great nation.
To many new rules. Why not just enforce the ones we have?