Subject: File No. 4-606
From: David Fent
Affiliation: Owner, Fent Insurance Services

July 30, 2010

Are you kidding? We currently have one of the best regulatory systems in place for the financial services business. The current suitability requirement not only makes sense for protecting consumers,insuring that all recommendations are appropriate for each consumer's situation, but we are continually monitored, checked and tested for the sake of protecting the consumer.

I hold my PC, Life and Health and Series 6 63 license. The current compliance burden is already so heavy and costly on both my business and my broker dealer that the idea of additional compliance requirements seems completely insane. It will only hurt the customer by increasing costs. I currently do not charge a fee for my services. Additional regulation is going to force everyone into a fee based model, reducing consumer choice and increasing the costs which will be passed on to the consumer.

Here's an idea, why not spend all the money that will be required to enforce 4-606 and create an useful public education campaign so they better understand their options and are educated to know the difference between a professional (which 99.9% of us are) and a hack.