Subject: File No. 4-606
From: Yingyu Feng

August 25, 2010

This is regarding the "The Dodd-Frank Act" permits the SEC to require that all broker-dealers be held to the same legal fiduciary requirement investment advisers have when providing advice to clients - I personally believe that over-regulating broker-dealers and registered reps. is not a wise mechanism - too much is too much. I strongly disagree that the proposed "new" fiduciary standard would protect consumers any better.

It's the consumers' personal responsibility to obtain better knowledge about protecting their financial well-beings with understanding their REAL risk tolerance level, now just about "how much I can gain" but also, "Really, how much can I afford to lose", which is the NATURE of investing in the MARKET. Meanwhile, it's the financial professional's job to obtain much more education about NOT ONLY the financial knowledge but also really understand their client - More education on both side is definitely needed, not just to regulate one side.