Subject: File No. SR-FINRA-2009-057
From: Mark E Larson, Esquire, CPA
Affiliation: Academic Director of the Certificate in Financial Planning Program at Marquette University

October 13, 2009


President Obama has recently proposed sweeping regulatory reforms for the Financial Services field that almost rival the historic changes being proposed in the Health Care arena.

In the wake of these fundamental structural changes which include, among others, the formation of a new Federal Consumer Protection Agency, and a new Financial Services Regulatory Oversight Board, the traditional roles and responsibilities of FINRA are likely to change dramatically. Until FINRA can properly determine what it will cost to provide the new role being sculpted for them by the pending legislation, it would seem both premature and presumptuous for the agency to impose massive increases in their member fees and assessments.