From: jack [morten@tds.net]
Sent: Tuesday, February 25, 2003 7:55 PM
To: rule-comments@sec.gov
Subject: S7-03-03

I support the proposed rule with the following modifications:

There should be no Self-Regulatory Organization.  It would be better 
to increase the budget to cover the necessary staff to implement the 
rule effectively.

A single compliance officer should be designated by the fund trustees.  
This individual should have a fidelity bond required and this person's 
resume should be at least the equivalent of the top manager of the fund. 

Barbara Mortensen
Investor