Subject: File No. 4-606
From: Guy F Alford, III
Affiliation: National Association of Insurance Financial Advisors

July 30, 2010

I disagree that the fiduciary standard has protected consumers better. Basically, the fiduciary standard looks back and enforces breaches retroactively through SEC enforcement or private lawsuits. The suitability standard looks forward and tries to prevent harm to consumers through ongoing and frequent FINRA and broker-dealer audits and compliance processes.

I am regulated enough If not done right the resulting regulation WILL have a very profound impact on how I serve my clients or even whether I will continue to do so.

Guy Alford