Subject: File No. 4-606
From: Stephen L Howard
Affiliation: Registered Rep, State Farm Mutual Funds

July 30, 2010

I am opposed to additional regulations on Registered Reps and Broker-Dealers.

As a registered rep, I currently hold Series 6 and 63 licenses. I spend many hours each year meeting current regulations to keep my licenses current by completing Firm Element, Regulatory Element and attending required meetings with my companies' field compliance coordinator.

All of these regulations cost me a lot of time and money. At some point I must make a decision if I can afford to retain my securities licenses and continue to provide these products to my clients who enjoy purchasing them from a muliple line insurance agent that they have grown to know and trust over many years. New bank regulations and resulting costs have already caused me to forfeit my license to write mortgage loans earlier this month.

More securities regulations also add to the broker-dealer costs which then in turn are passed on to our clients.

The current securities regulations along with the suitability forms our company requires registered reps to complete for each new account provide adequate protection for each of our clients.