Subject: File No. S7-02-10
From: Nathan White, CFA
Affiliation: CIO, Paragon Wealth Management

February 2, 2011

As head trader for our RIA firm we have a fiduciary duty to seek out best execution for our clients - it is also in our best interest since we do not share in any transaction fees. Over the last few years I have noticed the impact of dark-pools and internalization on publicy disseminated prices. Our primary investment vehicles are ETF's. We are only "allowed" to be a part of the NBBO when placing our trades but it has now come to feel like the joke's on us as the flash-traders and BD's and other "favored" participants just dance around our orders taking executions away from those of us "suckers" who are playing by the rules.
I am simply requesting a level playing field where everyone competes openly.
I agree with the comments subsequently attached:

(Attached File #1: s70210-323.pdf)