Subject: File No. 4-606
From: Tom Hoffman, CLU, ChFC, IAR
Affiliation: naifa, clu,etc

July 30, 2010

-I am already overly regulated As a small businessman, I have seen my cost of compliance quadruple over the last couple of years. I am still keeping my clients interest utmost and first in my practice. You have no idea how much time, space, and money these compliance items are costing me. Yet you are still unable to keep control over the Madoffs and the Stanfords in the industry.. Yet I am the one who has to pay for the few.. I am tired of being penalized for doing my job right, while the crooks get away with their behavior. Go after the bad guys and leave me alone...or at least reimburse me for my costs of your compliance policies.