Subject: File No. S7-15-10
From: Brian L Wade
Affiliation: Financial Advisor / Registered Representative

July 26, 2010

If you are going to allow broker-dealers to set their own commisson rates for mutual funds, then it should be mandatory that Registered Representatives have the ability to block transfer their book of business to any broker-dealer that they choose. (That way Registered Representatives can easily move to a different broker-dealer if they are not happy with their broker-dealer's commission rate.) As it stands now, many Registered Representatives are trapped at their broker-dealers, because moving their book of business one client at a time is MUCH too costly from a time standpoint. If you want to increase competition in our industry, please take away the broker dealers' ability to keep Registered Representatives trapped at their firms. Take the control away from the broker-dealers, and give it to individuals like myself who are working hard to make a living and support their families. Thank you for listening to and considering my concern.