Subject: File No. S7-06-04

March 1, 2004

I was recently informed of the proposed regulations that would affect my industry. My initial feeling is that you are trying to protect investors, but the proposal would ultimately hurt them. How? Well it would certainly be difficult for an advisor to monitor and work with any clients investments on any type of ongoing basis if said advisor is not being paid for that. In addition, the context of these rules is substantial and an extension to at least 120 days from the current 60-day comment period is imperative to give our industry time to fully understand how the rule changes would affect our business. I appreciate the fact that the SEC is maintaining the integrity of our industry, however I caution you to consider the ultimate impact of eliminating 12b-1 fees and to be careful how you disclose sales charges so as not to deter investors from doing what they need to do for their financial security. Thanks again for taking the time to consider my point of view.


Nathan M. Kosman