Subject: File No. 4-606
From: Gina Wells
Affiliation: CLU

August 2, 2010

Compliance costs - both in terms of finances and time - are high enough. If gov't increases those, if will affect my business and more importantly, those costs are eventually felt by clients. Adding another layer of regulation means another layer of compliance, and even more cost to clients.

More govt regulation is NOT what is needed. I have been in this business for over 16 years and EVERY year I commit to continuing education and moral and ethical standards to abide by, including state regulated exams which I have to travel to and spend over three hours testing about circumstances to avoid.

Gov't CANNOT regulate fiduciary duty or whether a client is receiving "unbiased advice." If it happens, then the Court system becomes involved to remedy the situation.

If gov't continues to "regulate" it will force me out of business because the costs of doing business will be too high and the liabilities become too great.

Start working on items that are needed in America today - take a pay cut yourself, reduce your health insurance coverage, more regulation DOES NOT create more jobs. What it does create is more money for the government to waste. Take a look at your own job description and see if you don't need to be regulated to STOP SPENDING TAX PAYER'S MONEY ON UNNECESSARY EXPENSES