Subject: File No. 4-606
From: Joseph W Dobbs
Affiliation: Northwestern Mutual Financial Rep.

August 24, 2010

Dear Sirs...I've been in this industry, primarily on the insurance side, for 25 years. I've seen Compliance and Consumer Protection Acts become a necessary part of daily practice. In most cases it's been good for the consumer, the rep and the industry. The suggested Fiduciary Standard on Registered Reps is not one of those cases. Our current Suitability Standard in conjunction with my Home Office's compliance measures, FINRA and Broker-Dealer oversight is doing a great job of policing and doesn't view our clients solutions as a cookie-cutter approach. This consideration by the SEC seems to me as passing the buck. People are upset by the poor job the SEC and others have done in supervising the people who have a Fiduciary Standard and have subsequently abused it. Sincerely, Joseph W Dobbs