Subject: File No.
From: Michael J Ables

October 27, 2010

RE: s7-15-10

I have been a licensed insurance agent for over 30 years and have been a registered representative for 25 years. I support the SEC rule 12b-2 which would continue the 25 basis points fee that is used to ensure ongoing service and advice to consumers.

But I object to the idea that broker dealers would set their own commission schedules.

Anytime that commissions are "on sale" it only hurts the people you are trying to protect...the small investor who needs investment advice. Wealthy investors can afford different arrangements but the small investors rely on ongoing advice from registered representatives who use that small fee to provide ongoing service. Competition thrives in this marketplace, please don't allow various broker dealers to "corner the market."