Subject: File No. 4-606
From: Terence L Nolan
Affiliation: Agent Northwestern Mutual

August 3, 2010

I have ben a broker dealer for 15 years and already do what I feel is best for my customers. I always try to give customers the very best value.
Currently the amount of paperwork is unbearable. When I meet with a customer regarding their investments, I spend at least a half hour preparing for a meeting. The meeting's usually last an hour. Then there will be a half to a whole hour completing paperwork and following compliance guidlines.
This may be cost effective for customers with large portfolios. However, it is unaffordable to work with customers with smaller accounts.
More regulation will probably hurt the small investor.
Instead, why don't you enforce current laws and get the brokers that are ripping the public off out of the business.
You are penalizing the good brokers and not prosecuting the bad ones. We don't need more rules, we need more inforcement.
Terry Nolan