Subject: File No. 4-606
From: Thomas G Komara, CLU, ChFC

August 2, 2010

Compliance costs-both in terms of finances and time-are high, and those costs are eventually felt by clients. Adding another layer of regulation means another layer of compliance, and even more cost to clients.

I hold a number of licences including a series 7 and am constantly monitored and visited by compliance people from my broker/dealer. This is a very time consuming process. It is a constant task to comply with all the issues and items now at hand. So, to add more "hand cuffs" to trying to operate an ethical and honest business will take more time out of my day and add another burden. I feel this current action is not needed and is not going to help protect the consumer's interest more than it is now.