Subject: File No. 4-606
From: Leonard Mirabile

August 2, 2010

- Comments attached - I disagree that the fiduciary standard protects the consumers better. The fiduciary standard looks back and enforces breaches retroactively through SEC enforcement or private lawsuits. The suitability standard looks forward and tries to prevent harm to consumers through ongoing and frequent FINRA and broker-dealer audits and compliance processes.