Subject: File No. 4-606
From: Don A Reader
Affiliation: Chartreed Life Underwriter, Chartered Financial Consultant, Registered Health Underwriter

August 24, 2010

I am a Registered Representative as well as insurance agent. I spend over 200 hours a year in going to class and getting continuing education for my various licenses. I spend over $ 7,000 a year for Errors and Omissions insurance for my securities and insurance licenses. I take over 30 hours of various tests to continue my licenses and to validate them for FINRA and State departments. I am regulated continuously by my Broker Dealer, the State Insurance Departments and the SEC. It seems that I spend all my time doing CE and paying for licenses and taking tests. I don't have enough time to see my clients and earn a living. I have to fill out 7-8 pages of fiduciary regulations and get signatures before I can fill out an application and complete my regulatory responsibilites. I am 70 years old and in the business for 40 years without a problem. I already act in the best interests of my clients without the government requiring me to do so. I am regulated enough without anyone putting new or duplicate requirements on me. DR