Subject: File No. 4-606
From: Barry L. Carlson
Affiliation: Member of National Association of Insurance and Financial

August 12, 2010

I am vehemently opposed to the proposed "fiduciary duty liabilities" about to be placed on securities representatives. This business is already HEAVILY regulated, and this legislation will simply drive up the cost to the comsumer in the end. More and bigger government is rarely a good idea and this is just another example.

This move will definitely drive many financial services agents out of the business, thus eliminating valuable financial advice to the consumer. And contrary to what some may think, it will NOT necessarily result in BETTER unbiased advice.

Is this really what this country needs...thousands more American workers driven from their professions because of additional government regulations? As a nation, shouldn't we be concerned with CREATING jobs, not eliminating them?

Couple this with the fact that there will undoubtly be additional risks of lawsuits which is certain to increase the overall cost to consumers and the companies.

As registered representatives we go through testing, continuing education, Broker/Dealer training, SEC and NASD scrutiny, etc., just to get and keep a license. Now with these increased regulations you are about to force thousands of representatives to possibly abandon their profession. I hope you will consider the ramifications before acting.
Barry Carlson