Subject: File No. 4-606
From: James S Leggott

August 14, 2010

I am strongly opposed to the newly proposed regulations which will affect investment advisors and registered representatives. SUITABLILITY standards have greatly increased over the last five years and are providing strong and appropriate consumer safeguards. The current standards now governing broker-dealers and reg. reps are
already stringent and heavily enforced.

To require compliance with "fiduciary standards" will chase many advisors out of the business and therefore greatly reduce a very valuable resource to our clients. I believe that the middle and lower-income markets would be hit the hardest, and also, the rural areas. Most of the consumers in these markets cannot afford or do not have fee based advisors in their area.

MORE that really good governing. It will drive the cost to consumers up that much more.

SAY NO......These new regulations are not needed in a business that is already heavily watched and governed.

James Leggott