Subject: File No. 4-606
From: Carl Camillo
Affiliation: NAIFA, SFSP, EPC, FPA

August 24, 2010

It is mind-boggling why Congress feels that enacting more laws will solve problems. Why not simply enforce the laws that exist? Does Congress feel that unethical brokers and advisors will suddenly have a stroke of conscience just because MORE laws were enacted? All this reform does is make life more arduous for the honest, ethical broker and advisor. The suitability standard, when enforced, protects the client. The fiduciary standard, when enforced, protects the client. It does not have to be either-or. Both can live and thrive in the investment advice field. Reform is not necessary. Enforcement will more than suffice.