Subject: File No. 4-606
From: Scott A. Coenen
Affiliation: National Association of Insurance and Financial Advisors

August 4, 2010

The legal fiduciary standard that the SEC wants to impose on registered representatives is not going to give the public more comfort in the advice they get. It will put more burden on ther reg. rep., which we don't need.

The suitability guidelines which help prevent these things from happening are more than sufficient to ensure the general public is protected.

We as reg. rep.'s have to meet 4 times a year with compliance and adhere to several policies put in place to protect the consumer. We don't need more. We have certain licenses that require more state compliance regulation. We have ethis courses that are required, we have continuing education that is required.

We don't need additional overseeing entities as I feel we have the right guidelines in place to protect the general public before things can go wrong. We are certainly regulated in enough ways.

Scott Coenen