From: Toby Jermain [jermain@airmail.net]
Sent: Friday, March 19, 2004 12:54 PM
To: rule-comments@sec.gov
Cc: chapters@aaii.com
Subject: S7-06-04:
Gentlemen:

It appears that the proposed rule, as shown in Confirmation Requirements and 
Point of Sale Disclosure Requirements for Transactions in Certain Mutual Funds 
and Other Securities, and Other Confirmation Requirement Amendments, and 
Amendments to the Registration Form for Mutual Funds (17 CFR Parts 239, 240 and 
274) is headed in the right direction, but it still falls short.

The "after-purchase" disclosures look reasonable, but the "pre-purchase" 
disclosure is too brief and does not provide equivalent information.  A maximum 
amount of information should be provided BEFORE purchase, not after you have 
bought into a possibly shady deal or one in which the relationship between 
seller and broker is unduly biased.

Regards,

Gary T. Jermain
1542 Prairie Grove Dr.
Houston TX 77077
281-531-0328
jermain@airmail.net