Subject: File No. 4-606
From: William D Heiting

August 3, 2010

I have been in the securities business for more than 30 years. We are highly regulated. I do not see where another level of regulation is needed. In my opinion, it is just another federal agency that creates a load on businesses and eventually costs the consumer more and really does not do anything to protect the consumer beyond current regulation. I think implementation of current laws protects the consumer and does not add another level of liability for the adviser. The added regulation would discourage long time advisers who add great value to their clients to leave the business and thus many people would be underserved.