Subject: File No. S7-06-04
From: Eric T Nichols, ChFC
Affiliation: President-Financial Services Firm

April 1, 2005

As a financial services professional with over 20 years experience I wish to voice my opposition to the SECs proposed new rules File number S7-06-04 that will require broker/dealers to provide customers with targeted information, at the point of sale and in transaction confirmations. We the industry members have not had a real and true opportunity to review the proposal and I respectfully request that the comment period be extended for an additional 30 days or more. More rules and additional forms and paperwork do not protect the consumers, it just muddies the discussion and delays action by consumers on saving and investing for their future and retirement. Never has there been a time for increased savings by the general public. Government and Social Security cannot create the retirement funds needed to maintain the standard of living previous generations have achieved. Consumers already complain about the amount of required materials and the significant number of signatures required to do financial transactions. Many comment that the printing industry must really make a fortune off all the materials generated for their protection.
Again, please extend the comment period and allow the voice of the people involved at point of sale to speak and offer suggestions. Criminal behavior cannot be regulated by more paperwork under the guise of additional disclosure.
Respectfully, Eric T. Nichols, ChFC