Subject: File No. 4-606
From: Jeffrey G Meyers
Affiliation: Registered Representative

August 2, 2010

It is important that the SEC not impose a fiduciary standard on registered representatives.

The suitability standard governing broker-dealers and registered representatives is a robust and heavily enforced standard. It works well.

The SEC needs to enforce the fiduciary standard governing investment advisors. If properly enforced, Madoff would never have been able to pull off his fraudulent scheme.