Subject: File No. 4-606
From: Benjamin Smedley

July 30, 2010

It is my opinion that the current rules in place and being enforced are very adequate to protect the consumer. Much care, effort and expense is put in to client recommendations and being in compliance with the current regulations. A change to this would only increase expenses to all involved and ultimately the consumer in addition to opening a flood gate to frivolous law suits for any reason. This will drive good representatives out of the business not wanting to take the chance of an ever increasing liability leaving the consumer with fewer options for sound advice. The fiduciary standard being considered should not be made the law. I think the current regulations are plentiful and already provide consumer protections.