Subject: File No. S7-06-04
From: JOEL D FOSHEE

March 24, 2004

WHILE THE PROTECTION OF THE CONSUMER IS AND ALWAYS SHOULD BE THE FIRST AND FOREMOST CONSIDERATION IN OUR BUSINESS,THE OPPORTUNITY TO INVEST IN VEHICLES THAT CAN POSSIBLY ENHANCE
THE CAPABILITY TO BETTER OUR CLIENTS FINANCIAL POSITION IS ALSO IMPORTANT. THERE ARE ALREADY REGULATIONS CONCERNING DISCLOSURE IN PLACE. A LOT OF THE PROBLEM SEEMS TO ME TO BE A LACK OF UNDERSTANDING AND ENFORCEMENT OF CURRENT REGS. THERE MAY BE SOME MERIT TO THE NEW PROPOSALS ,HOWEVER I WOULD LIKE TO SEE MORE INFORMATION AND AN EXTENSION OF THE COMMENT PERIOD. I HOPE WE ARE NOT MOVING IN A DIRECTION THAT WILL INUNDATE ALL CONCERNED WITH VOLUMES OF REGS THAT NO ONE TRULY UNDERSTANDS,MUCH LIKE THE IRS CODE.I BELIEVE THAT MOST OF THE PEOPLE WHO ARE REPS IN THIS BUSINESS ARE HONEST AND DO DISCLOSE TO THE CLIENT THE CHARGES,FEES AND TIME FRAMES FOR THE DEFERRED CHARGES.CERTAINLY THE PROSPECTUS DOES, THAT WE ARE REQUIRED TO HAND OUT. IT WOULD ALSO SEEM TO ME THAT THOSE WHO DO NOT HAVE THE PROPER LICENSING AND ARE CAUGHT TAKING MONEY UNDER THE GUISE OF INVESTING SHOULD BE DEALT WITH BY THE SEC AND NOT LEFT TO THE JUDGES WHO MAY LIGHTEN THE PUNISHMENT OF OFFENDERS WHO MAY BE IN THEIR NETWORK OF FRIENDS. ALSO THE CEOS WHO HAVE DEFRAUDED THE CONSUMER SHOULD BE DEALT WITH MORE QUICKLY AND SUCCINCTLY. CLARIFICATION INSTEAD OF MORE TIME CONSUMING MEASURES TO ACCOMPLISH THE SAME OBJECTIVE WOULD BE MORE APPROPRIATE AND BETTER RECEIVED. AND MORE IMPORTANTLY,EFFECTIVE.