Subject: File No. 4-606
From: Julie Veltus

August 4, 2010

Dear SEC Commissioners:

For twelve years I have been an owner of a Financial Services Firm. I am a Registered Investment Advisor, and I hold the Securities Series 6, 63, and 65 licenses. I hold the state insurance licenses in Life, Accident Health, Property Casualty, and Variable Life Variable Annuity Insurance. I am certified in Long Term Care, Medicare Supplements and Part D. I just completed my term as President of our local NAIFA association.

Please do not pass the new SEC regulation of Broker Dealers and registered representatives by imposing fiduciary standards as this additional regulation will only add yet another layer of compliance and more cost of operation, which will ultimately be passed onto the clients.

The new proposed oversight and regulation will continue to discourage us as we are already heavily burdened with compliance, testing, continuing education and industry surveillance to continue assisting the public with sound financial advice.

Lastly, in all honesty I cringed at the thought being forced into retirement because I really do not like to cook.