From: Jeff Layne
Sent: March 29, 2005
Subject: File No. S7-06-04

I am in the financial services business. I am writing to oppose the knee-jerk reactionary procedures that seem to be crippling our economy, as will be the case if this rule is added to the law of the land.

Where will this stop? What good does it do to reveal all of this unrelated information to a purchaser? When are we also going to disclose how 'fees' are distributed to the rule-makers? I mean after all, where does the money come from that pays the salaries of the rule-making persons at the SEC? Is it not from fees from Members? Where then, do the Members get this money to pay these fees? Isn't it from the sale of the products to the public? When will the public decide they want to know the answer to how much YOU make as a result of their purchase?

The only reason we are even entertaining this notion is due to the recent weak performance of the stock market. There are more people investing now than ever. We never heard these types of outcries when the Market was breaking records on a daily basis.

Do Not Call legislation is just one glaring example of how a poorly thought out rule will keep the public from getting the quality information from a trusted source that they need to ensure the protection of their families. This 'disclosure' will only serve to add yet another reason for the public to procrastinate in regards to their savings objectives. With our Nation's savings rates so low, how can we even consider policies like these?

If disclosure is the goal, then there should be FULL DISCLOSURE, including but not limited to, that of even YOUR salary as a function of the purchase. Where are the courageous ones in our leadership positions that can stand up to this type of sour-grapes legislation?

We have all lost money in the market (A fact that has been pointed out through prospectus) and we had better start attempting to raise investor confidence again to help with the impending withdrawals that are certain to happen as our Baby Boomers retire. The last thing I feel that is needed is another thing for people to use as an excuse to stay out of the Market.

Jeff Layne, CLU, ChFC