Subject: File No. 4-606
From: Todd Henderson

August 24, 2010

We don't need more regulations. We need more enforcement and dismissal of those who are mis-leading clients. I have a Series 7 and Series 6 license and have to go thru continuing education and updates for these. Also, with my life and health license in MN we are required to take continuing education classes every 2 years. Our compliance departments do oversee and watch applications that our submitted. They are constantly looking for suitability issues that could arise. We don't need more requirements put on insurance/brokerage companies because that will increase the cost of the products which is passed on to the client. Many products now don't have fees upfront now so I have concerns if we are to start charging fees will some clients try to save their money and try investing or purchasing insurance on their own and end up doing something which would be unsuitable or cause them to lose money as a result. Please consider the above information because by adding more regulations and/or fiduciary responsibility could end up hurting the client instead or protecting the client.