Subject: File No. 4-606
From: Richard C Loomis
Affiliation: CLU,ChFC,CMFC,AEP

August 9, 2010

I am a financial advisor in Salt Lake City, Utah. I sell both fee and commissioned based products that include, Mutual Funds, Managed Accounts, Variable Life and Variable Annuities. I am supervised by Prudential and regulated by FINRA along with the State of Utah. In my opinion, there is no advantage to put into place a fourth supervisor or regulator. The rules are so complicated it is almost impossible to sell financial services to a public that desperately needs our help. I would think more supervision is needed of hedge funds and Goldman Sachs. Also, there is a whole big area of synthetic securities that are traded outside of the public eye that need some form of transparency and probably regulation. This are of the financial market could bring down our financial system like the fall of 2007. The rogue financial planners are still going to swindle the public even if there is another whole body of regulation.