Subject: File No. 4-606
From: Tom Hegna

August 24, 2010

The insurance industry is already full of regulations. Applying the fiduciary standard to all insurance agents will drive more agents out of the business - exactly at a time when small investors need more financial advice - not less.

While the fiduciary standard sounds great - who wouldn't be in favor of doing what is best for clients? The real world is quite different. We have many cultural agents who will never be able to pass the required exams. They will be blocked from serving clients. More and more agents will leave the business due to over regulation that takes the fun out of the business and you will lose many good agents who have always put their clients needs first.

The small investor will not have the resources to be attended to by a CFP or broker. The neighborhood insurance agent will treat that client right. If there are bad actors out there - punish them under the current regulations. We don't need more regulation we simply need enforcement of the rules that already exist.