Subject: rule 12b-2

October 27, 2010

It's my understanding that the Securities and Exchange Commission is considering allowing broker dealers to set their own commissions and sales charges. I would encourage you to not implement this change.

I've been a life insurance agent with Northwestern Mutual Life for over 42 years and a registered rep. for most of that time. It's my understanding that there's an SEC rule 12b-2 which allows a representative to be compensated up to 25 basis points for providing service and advice.

If broker-dealers set their own fees - the big guys will squeeze the little guys. The representative who services smaller investment accounts will no longer be able to afford to do so. Therefore, middle and lower market investors will receive no service.

The state of Wisconsin has a minimum mark-up law, to prevent 800 pound gorillas from squeezing out the little guys. There's a reason why.

Thank you for listening to me.

Dan Madigan