Subject: File No. 4-606
From: Bradley G Stelling

August 12, 2010

Comments Attached

I do believe there are suitable standards currently governing broker-dealers and registered representatives are already stringent and heavily enforced. Current regulations already provide strong and appropriate consumer safegards. The requiring compliance with 'fudiciary standards' will drive many advisers out of the market and eliminate a valuable advisory resource to consumers especially in the middle and lower income markets. The additional risk of lawsuits involving registered representatives will increase costs to consumers. This new regualtion could drive every registered represenative to a fee-only compensation which would not necessarily result in better, unbiased adivce for the consumer.
Thanks, Brad Stelling