From: Townsendas@aol.com
Sent: Sunday, January 25, 2004 8:25 PM
To: rule-comments@sec.gov
Subject: New Confirmation and Point of Sale Disclosure Requirements
To whom it concerns there at the SEC: 

I am writing as an ardent supporter of more stringent disclosure requirements 
for mutual fund managers.  I especially like the rule changes that would 
require professional who sell mutual funds to reveal the costs of buying 
fund shares and any possible conflicts of interest.  As a fee only financial 
planner professional, it sickens me every time I encounter a situation where 
investors are unaware of the various expenses of the funds in which they've 
been advised to invest.  It is fundamental ethics 101 to divulge not only the 
full costs of recommendations but also any possible conflicts of interest to 
clients.  It is embarrasing to the profession that so often neither is done.  
Far too many advisors, who should act as fiduciaries with only the best 
interests of their clients in mind, act instead with their own best interests 
in mind.  This must stop! 

It is extremely important that the common investor feel confident in his or 
her advisors and in the mutual funds in which he or she is invested.  The 
extent of the current problems with mutual funds is appalling.  Please enact 
the recently proposed new guidelines as soon as possible. 

Anne Townsend 
32 High St. 
P.O. Box 525 
Biglerville, PA  17307 
717-677-8323