From: Linda Perryman [linda@theperrymangroup.com]
Sent: Monday, April 12, 2004 9:56 AM
To: rule-comments@sec.gov
Subject: File No. S7-06-04

April 12th, 2004
 
Jonathan G. Katz, Secretary
U.S. Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549-0609
 
RE:  Release Nos. 33-8358;IC-2634-1;File No. S7-06-04
 
Dear Mr. Katz:
 
I have been a registered representative working as an independent contractor 
in the financial services field for many years.
 
I would like to express my concerns regarding the proposed new rules for 
point of sale and confirmation disclosures of mutual fund transactions for 
the following reasons:
 
First and foremost, these proposed rules will be too complex for the average 
retail investor. For many people starting out in investing, the process is 
already intimidating.  Why make it more so with the addition of redundant, 
overly complex data points?
 
Second, I do not feel you are accurating calculating what implementation of 
these rules will cost the broker-dealer community. My concern here is for the 
smaller broker-dealers, that serve the independent advisor community. There 
is no revenue stream from investment banking here.

If anything these costs should be born by the mutual funds themselves.
 
I respectfully request that the Commission:
 
a.   Extend the comment period to 180 days to give ample time for analysis 
and comment by all interested parties; and
 
b.   Realize the complexities and burdensome tasks they are proposing to 
place on member broker-dealers who represent the independent registered 
representatives would require inestimable costs in dollars and other 
resources;
 
c.   Realize that the proposed required disclosures would only serve to 
heighten the confusion of an already confused and cynical investing public.  
The public is in dire need of competent investment advice, especially where 
their retirement is concerned. The independent advisor is currently a small, 
but determined force, who is much more concerned with the well being of our 
client's financial future than is realized.  
 
d.   Please do not approve these proposed rules.  
 
Respectfully submitted,
 
 
Linda M. Perryman
 
 
 
__________________________

Linda M. Perryman
The Perryman Group
P.O. Box 244
Hallowell, ME 04347

linda@theperrymangroup.com

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