Subject: File No. 4-606
From: Rona R Swanson
Affiliation: NAIFA, GAMA, LUTCF

July 30, 2010

I am concerned about the efforts to introduce layer upon layer of new compliance and responsibility on the backs of registered representatives. I have been registered for over 20 years and have seen people come and go in this industry.

The ones who are concerned with the golden rule and treating their prospects and clients the same way that they would want their parents and siblings treated will continue to do so.

The charlatans who are predators and abuse and misuse people will continue to do so with barely a flicker of their eyelids.

The end result of heavier burdens for the ethical is that we will be even more encumbered in how we can respond and assist people who seek our services.

No consumer will be blessed with this fiduciary burden but our industry may be scourged if you pass it.

I urge you to consider the unintended consequences of the proposed regulation and dial back the regulatory red tape and fiduciary obligation.