Subject: File No.
From: Timothy M Ellen

October 27, 2010

Re File Number S7-15-10

Now in my 28th year as a licensed insurance and financial services professional, I have been a Registered Representative in the sale of securities for the past 20 years and serve a mostly middle class, working clientele.

While I support the new SEC Rule 12b-2, which would continue the fee that would ensure investors receive ongoing service and advice and make the language clear to investors that these are "marketing and service fees," I adamantly OPPOSE the SEC permitting mutual funds to issue a new class of shares that would allow Broker-Dealers to set their own sales charge and commissions.

The resulting competition based on price alone would almost guarantee a bottom-line mentality among middle class investors, many of whom need the ongoing service and advice they currently receive from their investment reps. My fear is that only more sophisticated, higher-income investors with assets under management accounts would continue to receive valuable advice and guidance.

It seems to me the investors for whom the SEC seeks to provide the most protection - lower and middle income investors with less sophistication - would be the ones most hurt by this scenario.

Please consider removing this part of the proposed rule and leaving class shares as they are.

-Timothy M. Ellen, LUTCF, CLTC
LaGrange, Georgia