Subject: File No. 4-606
From: Leslie a pECK, ChFC CLU

August 23, 2010

I am very concerned about the unintended impact of the "Fiduciary Standard" in the Dodd-Frank legislation could have on my clients and my practice. It seems to me that one more layer of compliance will do little to "protect" the public. 25 years ago we conducted business in an honest and ethical manner with very little talk of compliance or investor protections. Today we still conduct our business in an honest and ethical manner but every conversation includes the words "compliance", "suitability" and "in the clients best interest".

We have always put the clients interest first. This legislation, like a lot of other legislation will force the good, honest professionals out of business because the cost and liability will be too high. When the term "best" is used in the legislation (best interest of the client), who determines what "best" means? Does it mean cheapest? Does it mean the carrier with the "best" rating. Does it mean the product with the "best" return, this year, the last 10 years??? Too much liability is creaated with the vague language in this legislation.