Subject: File No.
From: David Montemurro

October 27, 2010

I feel that it would create a problem if broker dealers were to be responsible for setting fees on mutual funds. We alreay have a system where there are NAV funds avaialbe for large asset groups. Consumers already can choose a no sales charge, do it your self approach. I feel the existing sales charge format is fine.

I do support the renaming of 12-b 1 fees, and better dieclosure of sales charges in general. I recommend the focus be on the mutual fund and plan sponsor level. Mutual funds, wrap accounts, and 401k providers should be resposible for a total ongoing fee disclosure that is easy to understand.