Subject: File No. 4-606
From: Michael Palet
Affiliation: LUTCF

August 1, 2010

As a life insurance agent with a series 6 and 63, I'm concerned that another layer of regulation may impose additional costs on clients and representatives. For most clients (middle market) that I serve, they would not be willing to pay up front fees or even afford additional fees. Additional fees may disengage potential clients from retirement planning due to an industy that they view as corrupt and dishonest at the Wall Street level.