Subject: File No. 4-606
From: Keith A Deras
Affiliation: Registered Representative

August 17, 2010

Please change the current legislation to remove the additional burden on Registered Representatives.

The Current Suitability standards governing registered representatives are already stringent and heavily enforced. Current regulations already provide strong and appropriate consumer safeguards.

Requiring compliance with 'fiduciary standards' will drive many advisers out of the market and eliminate a valuable advisory resource to consumers, especially in middle- and lower-income markets.These individuals could not afford to pay for the services and therefore would receive no help.

There is also an additional risk of lawsuits involving registered representatives. This will increase costs to consumers.

Using a registered representative on a fee-only compensation basis will not necessarily result in better, unbiased advice for the consumer.

I believe that more regulation and paperwork is going to drive registered representatives away from our business.

The average person will only be able to use the Internet for their advice if we cant afford to stay in business.

Thank you for your time.

Keith A Deras
Registered Representative