Subject: File No. S7-15-10
From: claude e hackett

November 4, 2010

I have been informed that you are currently discussing 12b-1 fees and whether you will let broker dealers set commission levels in new share classes. I am licensed in sales of both life and investments. We have been schooled in the life field that rebating is illegal and also anti client friendly. However, this same concept of rebating by reducing commissions to be competitive can't be viewed as being very far from the rebating conept that is outlawed in life and health. I ask you to reconsider the impact this may have on the industry and therefore on the client.