Subject: File No.
From: Jeff M Biggs
Affiliation: Registered Rep for Equitrust

October 27, 2010

I support your position regarding the 12b-2 fees to allow registered reps to offer service and advice to the clients who are investing for retirement. I am opposed to you allowing broker dealers to offer their own shares so they can set their own fees. This will open up opportunities for more abuse with hidden fees, while appearing to lower fees to gain marketshare. This will also be at the expense of Registered Reps who will no longer be able to afford this service due to profitability issues. When this happens "middle" America will be the one affected the most. The group you are trying to protect.

Put careful thought into what you are doing. America cannot afford another Bernie Madoff or a Wall Street issue that occurs as a result of your legislation. The taxpayers are footing this bill and your job is to protect them from all of these issues.

Thank you for allowing me to have input, it is greatly apprecaited.


Jeff Biggs