Subject: File No. 4-606
From: Brian J. Foecke, LUTCF

August 6, 2010

Our Industry is already practically regulated to death.

We need to continue to seek out the rotten apples in our Industry and punish them no different then we do in any industry, however, not at the added expense to the consumer nor the honest, hard-working Financial Professional.

If we choose to head down this path of additional regulations similar to those of RIA's we are going to eventually leave the average consumer out in the cold, as there will not be anyone left to service those individuals.

They are already forced to do much of their own retirement planning through their employer sponsored 401k / retirement plan...........Plans that offer very limited at best assistance and guidance for these average consumers.

The long term integrity of our Social Security System is already questionable, Private Pensions Plans are practically a dinosaur from the past, 401k's are under-utilized and provide little hands-on assistance, bank interest rates aren't even keeping up with inflation let alone providing much of a return and yet you are willing to discuss adding more regulations on top of the already mountainous amount in place which will further push our industry away from those people that need our services the most.
Do we really want to abandon them entirely??

In today's very busy, fast paced lifestyle the average consumer will procrasinate until the very end things like their own retirement unless prodded along and guided by Professionals in our Industry. Believe me when I say this because I see it weekly

While the original intentions of your actions thus far may very well be on track to bettering our industry and the society in which we live, the unintended consequences of your pending actions will very likely prove to be completely opposite of those original intentions should you continue down this path.

I hope you will give this much careful consideration before taking any actions.

Best Regards,
Brian Foecke