Subject: File No. 4-606
From: Doug W. Lovejoy
Affiliation: State Farm Insurance

August 6, 2010

Please shape legislation that is "suitability" based on behalf of the consumer vs. "fiduciary" based.

The need for fiscal discipline and solvency by any financial services provider cannot be understated. On balance, we have seen government sanctioned entities like mortgage loan providers, etc. misrepresent their "real" fiduciary position.

Looking behind us and cleaning up post transaction is well intended but offers cosmetic protection for the consumer.

I support suitability based legislation that is horizon based in its approach and places accountability squarely on the financial services provider and their individual representatives.

It often seems that well intended legislation solves the wrong thing or blames everyone in a particular discipline.

Thank you for your consideration. I value and appreciate your role and responsibility.