From: Glenn W. Seibel
Sent: March 30, 2005
Subject: File No. S7-06-04

In this era of excessive redundancy, the proposed regulations are simply another example of the desire to "kill more trees." Since the prospectus with its accompanying disclosure is already in an SEC-proofed item, what is the point?

This proposed regulation would simply add to an already confusing client meeting.

Glenn W. Seibel
Orion Financial Group Inc.