Subject: File No. 4-606
From: (George) Edward Easley, Jr.
Affiliation: State Farm Agent

August 13, 2010

These new regluations are not necessary and will hurt consumers in many ways. As an industry, the regulations and standards have improved tremendously over the last decade. The regulations, suitability, and paperwork we currently have provide excellent protection for consumers. Requiring these new standards will drive more and more advisors out of the market which will hurt consumers. Also, with vague wording of the standards such as "best interests", you are opening up the potential for many lawsuts, which will increase costs to consumers and drive even more advisors out of business. The middle and low-income households are already underserved and they need guidance. With these new standards, many advisors will leave the industry, costs will increase, and it will hurt the middle and low-income households even more.