Comments on Regulatory Notice 08-20

To Whom It May Concern:

Allegations are assertions that can be made with little or no proof. By this definition and under these circumstances [Not being named], to effect a permanent U4 / U5 blemish seems unduly harsh with too much potential for abuse and excessive collateral damage. Isn't a 3070 filing effective enough in this instance?

Matthew Guerrise
Chief Compliance Officer

FMSbonds, Inc.
301 Yamato Road, Suite 2100
Boca Raton, Florida 33431
Telephone: 800-741-1103 x.2457
Facsimile: 561-893-6080
E-mail: compliance@fmsbonds.com