Subject: File No.
From: Jessica D Schock
Affiliation: Financial Representative

November 2, 2010

I have some concerns about allowing broker-dealers to compete based on the commissions they charge and the services. As a financial representative, I feel the playing field is already level with the current charge of the 12b-1 fee. I support calling it a sales charge or marketing charge. I am up front with my clients and explain that the 12b-1 fee pays me to service their account in an on-going basis. My fear is that by changing that structure it will lead investors to the lowest price which means that most of us cannot operate our practices at zero profit margins. Furthermore, if we cannot stay in business, we cannot help our clients.