Subject: File No. 4-606
From: Tomas E Allred
Affiliation: Farm Bureau Insurance Agent

July 30, 2010

I oppose the fudiciary standard for registered representatives.

I disagree that the fiduciary standard has protected consumers betterCompliance costs-both in terms of finances and time-are high, and those costs are eventually felt by clients. Adding another layer of regulation means another layer of compliance, and even more cost to clients.