Subject: File No. 4-606
From: Jeffrey J Taggart
Affiliation: Naifa

August 30, 2010

I want to let you know that I belive that proposed regulations will be the demise of the independent rep, and serve too undermine the financial well being of the american public as a whole. Currently we spend way too much time meeting compliance requirements, we have one office girl that spends hours upon hours making sure that we meet all state and NASD requirments, as well as those imposed by our BD. We have been serving clients here in the mountain west since 1914 and have done our best to try and serve the needs of our clients. The supposed "fiduciary" standard is nothhing but a open door policy to future litigation, we will find it very hard to continue to reprsent our clients and serve their needs without passing on new costs to them. I hope you will find common sense as you review these proposed regulation. Sincerly Jeffrey J Taggart CLU,Chfc, LUTCF