Subject: File No. 4-606
From: Russell W Arman
Affiliation: CFP

August 3, 2010

I agree that there needs to be supervision/regulation but Enough is enough The present level of regulation in the securities industry is very robust and heavily enforced. We have yearly audits of our offices and are required to do numerous sets of forms such as suitability forms, customer account cards, disclosures for mutual funds, variable annuities indexed annuities just to mention a few. There is such a level of disclosures and paperwork that I needed to hire a second assistant just to keep current with the amount of paperwork and compliance required. In summary I am strrongly opposed to the enforcement of the Fiduciary standard as we are presently regulated enoungh as it is.

Russ Arman CFP