Subject: File No. S7-15-10
From: Paul E Gillham
Affiliation: Eagle One Investments, LLC

November 1, 2010

I agree with the arguments put forth in the composite template letter "A". In making this decision the commission has great power to affect the quality, quantity and pricing of investment advice and service to the public. I hope it ponders carefully all of the possible outcomes of the proposed changes before reaching a decision.