Subject: File No. 4-606
From: James O Mitchel, Ph.D.

August 23, 2010

While I work for a financial services trade association (LIMRA) I am making these comments as an individual investor. I am very concerned that imposing a fiduciary standard on broker-dealers will limit my ability to buy and sell equities. I am in no position to pay $1000 or more in an advisory fee just to trade securities. I do not want a comprehensive financial plan and advice. I want to make some small investments to help my wife and my self in our retirment. I work with a broker-dealer to do this and I'm quite pleased with that. He tells me what is a suitable invesment for my objectives. I don't need a lot more mandatory stuff to read - which I won't read anyway since I won't understand it with all it's legal terms. Broker-dealers are not the same as investment advisors and don't provide the same services so don't need the same regulation.