Subject: File No. 4-606
From: Donald L Schleicher
Affiliation: Past President-NAIFA Wisconsin

August 3, 2010

In my opinion our industry is well regulated by FINRA and the SEC. I want FINRA to continue to do random audits as I believe this is a forward looking regulation and will continue to keep representatives more honest as they can be subject to a random audit. I was audited at random last year and passed with flying colors. I think most reps. are honest and are trying to do the best job for their clients. I always say "You can make a good living doing the right thing".

Forcing reps to become fee based would hurt the small investor, of which I serve many. Most would be unable or unwilling to pay a fee and thus would not save for the future as they should. This could hurt the country in the long run as there would be more dependence on government for help. I encourage people to save and pave their future.

We do not need more regulation of our industry. We need to punish those who do wrong and make sure they are not able to do the wrongs again using the existing laws we already have.