Subject: File No. 4-606
From: Rondol L Davidson
Affiliation: Registered Representative

July 30, 2010

I am opposing the Imposing Fiduciary Standard on registered representatives. We are already under careful governing from our broker dealer. They come to my office to do audits and compliance checks regularly. They also sponsor mandatory compliance calls and meetings regularly. We uphold suitability standards to a very high degree. The costs associated with more compliance related could and probably cause many good registered reps to exit the business. I am strongly opposed to only fee based compensation. I have been the business for 27 yrs and do not agree that Reps like me would have to be mandated to go fee based only. That is just not fair.