Subject: File No. 4-606
From: Michael Berardi
Affiliation: NAIFA

August 6, 2010

-I Feel our industry is regulated enough. Do not punish us advisors for the mistakes that others who were not being regulated have made

I take CE credits on a regular basis, I have a supervisory interview conducted annually, and I attend regulatory element training by FINRA every 3 years.

How much more do we need?