Subject: File No. 4-606
From: Jack S. O'Brien, Jr.
Affiliation: NAIFA NATIONAL member for over 40 years.

August 25, 2010

I am writing of my opposition to the proposed DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT. This proposed legislation is a duplication of what is already law. We as SEC Registered Representative already have compliance guidelines and requirements to act in the best interest of the clients. We are required by the Securities Laws of 1934 and 1941, plus any additions since then to cover all that is being suggested by this act. The requirements of this act would overload the representatives and broker dealers in costs that eventually will be passed on to the consumers. Increasing the costs of doing business with falling revenues because of declining compensation for the independent business person will drive many highly qualified practicioners out of business. This act is not for the consumer's protection, as they already have that protection, but is in direct REACTION to the econmics times we have all experienced in 2008-2009, that members of Congress are trying to point the blame at someone other than themselves, who they think does not care about our client. I believe this proposed legislation should not be passed and should die where it is now.