Subject: File No. S7-15-10
From: brian fischer

August 3, 2010

you continue to miss the point with these fees. they provide a better service arrangement than the typical A share/commission situation. in the end they will generate churning and cost the investor more.

how do you address exisitng C share holdings? are they grandfathered? will this only apply to new sales?

why dont you focus on ferreting out the bad element in the business and leave the industry structure alone.