Subject: File No. S7-06-04
From: Michael J Kelley, CFP
Affiliation: Certified Financial Planner

April 1, 2005

Dear Sir: I have recently become aware of your proposed new rule S7-06-04. This proposed new rule could have a substanial impact on my profession. As with most rules there is always the potential for substantial unintended consequences. I am particularly concerned about the cost that the proposed legislation will impose upon the financial service industry versus the public good that the legislation will produce. I would respectfully request that the comment period for this proposed legislation be extended so that more thoughtful consideration could be given the matter.

Very truly,

Michael J. Kelley