Subject: File No. 4-606
From: Lawrence J Fowler , Jr
Affiliation: CLU, LUTCF

August 2, 2010

Advisers, registered reps and Broker-dealers are heavily regulated with current Compliance laws, the cost in terms of finances are high. Those costs are handed down to customers. Adding additional layers of regulation will only hurt the consumer. Yes, there are bad apples but, enforce current law. We are currently so regulated the paper alone costs consumers large dollars. Clients would not be able to absorb additional upfront fees for our services. Please use the current law to make all registered reps and broker dealers adhere to existing law and keep financial advisers in business rather than over regulating.