Subject: File No. 4-606
From: Roland J Basinski, CLU, ChFC
Affiliation: NAIFA, SFSP

August 24, 2010

This law is too vague.....the definitions are not specific enough....I believe that the suitability standard is a robust one, and is heavily add a fiduciary standard would add more burdensome regulations that are not clear....we already are spending hours each week making sure we are incompliance with each regulation....some that seem to have nothing to do with what a client wants and takes away from serving clients properly because of all the extra time it takes to be in will cost me more money for E O insurance, which will eventually be passed on as higher costs for the consumer as well....please do NOT exercise this authority to impose an extra fiduciary standard on advisors.............those of us in this business who are the responsible ones already look out for our clients' best interests...........don't make it more difficult.