Subject: File No. 4-606
From: peter j fitzpatrick

August 29, 2010

Brokers and investment advisors should be legally required to put the best interest of clients first when selecting and creating investment products. If a broker or a dealer creates a product to sell to clients, it should be illegal for them to bet against it. Fund managers should be required to hold those funds in their personal portfolios. They should have skin in the game to ensure that investment decisions are made wisely. Fees need to be more clearly disclosed. Quarterly statements should include actual dollar amounts brokers, dealers, and investment advisors are making on any given account. And each statement should clearly show how much money has been gained or lost over the life of each investment up to that reporting time. Laws protecting investors need to be strong and penal to protect investors from corrupt individuals and institutions.