From: Mark P. Schoenbeck
Sent: April 4, 2005
Subject: File No. S7-06-04

Jonathan G. Katz
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549-0609

Dear Mr. Katz,

As a Financial Services professional and an investor, I respectfully request that the Commission extend their comment period on the above mentioned rule. I respect the work that the Commission is doing to try to protect the end investor, but I believe that after more thought and consideration that you will see that these proposed changes will create significant costs to our industry while providing very little protection to the investing public. Before you make such an important decision, please allow more time for comments from the industry and public.

Mark Schoenbeck