Subject: File No. 4-606
From: Robert A Jones

August 23, 2010

Do NOT impose the fiduciary standard on registered representatives and broker dealers It is far better for those of us in the industry to work with clients on a proactive, suitability standards based approach. Forward action and frequent meetings with clients to ensure they are having their needs properly assessed based on suitability issues is best for all - and helps those of us who are professional enough to care foremost for the client help to prevent wrong-headed thinking of "quick riches and recovery" methods for those who can least afford it. Suitability and understanding of the needs of the client should be foremost for all - those of us working directly with clients and you who regulate us. Please do NOT take us to a level which will only serve to hurt clients - keep the suitability standard - do not impose the proposed fiduciary standard on registered representatives, investment advisors and broker-dealers. Thank you.