Subject: File No. 4-606
From: Greg Sanchez
Affiliation: State Farm Insurance Companies

August 17, 2010

I am writing in response to new regulations that would affect the fiduciary responsibilities of broker/dealers and
registered representatives. Current safeguards are already in place to provide strong and appropriate protection to consumers. Requiring compliance with these new fiduciary standards may force many advisers out of the business thus, affecting the middle and lower income markets from receiving financial guidance. The cost of an additional risk of lawsuits will be reflected in consumer costs. Forcing every registered representative to a fee-only based compensation may not necessarily result in better financial advise.