Subject: File No. S7-06-04
From: John S. Beall, ChFC, CLU, LUTCF, LIC

April 3, 2005

For the vast majority of our clients, the minutia of investing in security products is already excessive and cumbersome - why would any sane individual wish to further exacerbate the process? It truly seems that there is an over abundance of datum relegated to our products - and most of it is an attempt to reach those few individuals who have been lied to by unscrupulous representatives who have no conscience. If one wishes to help eradicate those individuals who twist the facts for their personal gain, to the exclusion of their clients benefit, moneys spent on investigation of the representative prior to licensing would seemingly be more beneficial. For those reps who have already marched through the system, many have already dropped out due to market conditions - whIle those remaining will certainly be found through enforcement provisions of present rules and regulations.
WHY THROW OUT THE BABY WITH THE BATH WATER????