Subject: File No. 4-606
From: Ronald T. Staebell, ChFC

August 5, 2010

I am a registered securities representative and an Investment Adviser Representative. I strongly urge the SEC not to impose any Fiduciary Standard on those of us who advise people on financial planning and investments as we are already heavily regulated with the suitability standard imposed on our broker-dealers. My compiance costs are already too high in relation to my securities based income and other opertional overhead. If the SEC imposes the fiduciary standard on us, most of us who serve the middle and upper middle income market will be forced to surrender our securities registrations and those we serve will not be able to obtain the professional advice they have been used to as this huge market does not have the potential income for the large brokerage houses to justify their time and attention. While I am aware that some "bad apples" in our industry have taken advantage of consumers, our current regulations, compliance standards, paperwork, continuing education requirements,and other requirements are enough to protect consumers. Thank you for considering my thoughts and feelings.