Subject: File No. 4-606
From: Michael J Wilcox, LUTCF

August 5, 2010

I have been in the Ins business for 35 yrs and primarly sell Life,Health,Auto,Home. I also hold a 6 and 63. My company holds its agents to a higher standard and every piece of business we submit is scrutinized. We have quartley meetings as well as visited by our compliance dept yearly. Every year our new business applications get longer because of all the compliance. Some of them are redundant. Lumping all registered representative into one category is incorrect. Most of us aren't RIA'S, or broker dealers. We don't charge a fee nor are we Fiduciarys. While as a registered rep we are held to a higher standrd and comply with all rules and regs, this proposed rule change would drive up our errors and ommissions coverage. And I would think that our clients would be now subject to higher fees. Ultimatly it will drive me out of the ins business, and many other agents.