Subject: File No. 4-606
From: Nancy R Nunez, MBA

August 24, 2010

The suitability standard governing broker-dealers and registered representatives is comprehensive and enforced.

As a retired person, I know the value brought to people who need the information provided by registered representatives. The media and a few "bad" people who take advantage of their power are making it tremendously hard on honest, hard working professionals in this industry.

Everyone I work with, my passion for others, as well as compliance requires that we put the client's needs first and foremost as to their best interest.

It seems to me that the more regulation costs more money for the companies and those costs will need to be transferred to the clients for the businesses to stay in business.

Why punish everyone for a few people? All industries have issues with people. I have my group and Series 6 and 63 licenses. My resident state is Texas and I hold non-resident status in Virginia, Arizona, and New Mexico (insurance only). There is so much documentation that goes with each case whether I get compensated or not. I've worked with many people and business. People are so paralyzed because of what the media is saying whether it's a concern or not. Gov't action and uncertainty with more costs for businesses and the bankruptcy rate is perpetuating more unemployment. Give the companies who hire people more incentives. Then the people can work instead of draining the gov't.

I need to hire someone to help me with the paperwork, but can't afford it because of all the expenses compared to compensation.

Please don't add to the unemployment numbers by pushing currently licensed people into leaving this industry. It helps protect families and their hard earned money.

There's no crystal balls for our futures, but the more attacks on industries including financial, the less confidence by clients.