Subject: File No. S7-06-04
From: Jeff Oler

April 4, 2004

The proposed forms are understandable. The idea of disclosure at the point of sale is especially good. This makes more obvious the underlying connections and motivations a broker/dealer may have for suggesting one fund over another. This seems especially difficult in the so called variable products. With those, the truth is burried in a maze of smoke and mirrors.

This discosure should be required for current investments or holdings, at least the sum of current investments, ie. those made prior to the ruling. If not, any accounts set up prior to the ruling would require disclosures on any future trades.

Finally, if the prospectus would include a similar easy to locate and understand summary of charges this would help greatly.