Subject: File No. 4-606
From: Elfredia v Hawthorne

August 18, 2010

I disagree with Fiduciary Standard on Registered Representatives. If the standard is passed fewer registered representatives will renew their licenses and fewer new people will apply for license. The cost of the services of those who remain will increase. In the end the American middle class and poor will be the ones who will lose the most because the may not be able to afford . Please do not allow this to pass.