From: Joseph Regina [jregina@houston.rr.com]
Sent: Tuesday, June 17, 2003 11:30 PM
To: rule-comments@sec.gov
Subject: Petition for Rulemaking (SEC File No. 4-461)

Dear Mr. Katz,
I am writing to you as an individual investor and retired financial analyst.
I firmly believe that fundamental structural change in corporate governance
is necessary to restore confidence in our financial markets.

Currently most Board of Directors no longer represent the shareholder. But
CEO that nominates and elects them to their boards. How else can one explain
the incredible transfer of wealth from shareholders to company officers.

It is incumbent on the SEC to provide an economical mechanism whereby
dissident shareholders (without 3%, 5% or 10% requirement), can run a
dissident slate of directors that will be independent and more equitably
represent shareholders instead of the CEO.

Failure to deal with this will matter will permit CEO to continue to plunder
corporate wealth for their personal benefit at the expense of every employee
who diligently saves in a corporate pension plan or 401-K.

Best regards

Joseph Regina