Subject: File No. 4-606
From: David D Kaestner

August 6, 2010

I have serious reservations on the proposed impact that is being reported regarding SEC regulation / fiduciary responsibility.

My greatest concerns are that this will ulimately hurt the consumer with additional costs that will be passed down to them and lack of choices, as many registered reps will ultimately leave the industry and smaller investors could be shut out of choices all together.

I am all for protecting the best interests of the clients, but do not feel that this is the correct path.

I support NAIFA's position regarding these issues and hope that you will utilize their input.