Subject: File No. 4-606
From: Sally Lujuana Bull, CLU, ChFC
Affiliation: Financial Consultant, Bull Financial Insurance Services

July 30, 2010

My office staff and I work diligently to stay compliant with all rules and regulations and because we are concientious to this intention, I believe we do a good job of staying in compliance while putting our clients needs and interests first. Additionally, we work to remain viable as a business so we can continue to serve as an ongoing resource to the investing community.

I am well supervised and continue my education as is prudent for the benefit of my clients and for retaining my Series 7 license. Our Branch Office is visited yearly to confirm our compliance with present regulations and we devote significant time to maintaining compliance throughout the year. I recognize it is an important, even though already cumbersome, task.

I serve approximately 400 people who have investment assets ranging from $1,000 - $1,500,000. I mostly offer A share mutual funds and Retirement Plan R Shares. I am also licensed to sell individual stocks and bonds and have some clients taking advantage of these investments.

What concerns me most about the potential for another layer of regulations is that you can't legislate honesty. But, you can regulate an industry into oblivion. What we need most are monetary policies that support a healthy, if not robust economy. And, a recognition that added regulations will not keep the cunning and the desparate from doing their damage, especially if the present laws are loosely enforced, as I suspect is the real issue.

I've noticed that the rules and regulations that were put in place to protect market downturns following the Great Depression did little or nothing to slow or improve our recent economic upheavel. What makes us think a reactive layer of added rules and regulations will protect the investing public any better? I suspect we need only minimal adjustments on the regulatory side and solid enforcement for a truly beneficial difference.

With all this said, I trust and pray that every effort you make and consideration that actually becomes new regulations will be of discernable substance and truly beneficial for all concerned.