Subject: File No. 4-606
From: RONALD S SCHMIDT

August 9, 2010

PLEASE, NO MORE REGULATION. WE ALREADY SPEND TOO MUCH TIME ON COMPLIANCE RATHER THAN SERVING OUR CLIENTS. THE SEC NEEDS TO DO A BETTER JOB OF DEALING WITH THE BERNIE MADOFFS OF THE WORLD AND ENFORCING THE LAWS ALREADY IN EFFECT.