S7-06-04:From: Robert Digiambattista [robert.digiambattista.njlm@statefarm.com]
Sent: Monday, February 16, 2004 11:52 AM
To: 'rule-comments@sec.gov'
Subject: S7-06-04:





I agree that more disclosure is required. Most clients do not read disclosure forms and 
many brokers do not give copies to client. It is a known fact that most companies reward 
brokers for steering clients into specific funds. The penalties need to be changed with any
rule changes. Brokerage companies get away with a slap on the wrist while the selling agent 
is crucified. If a company is fined 1 million dollars while they pocket 100 million, there 
is no incentive to change tactics. Meanwhile the selling agent has his license revoked for 
complying with company policy.

I also think a standard name should be required for fund names that projects the funds 
objective. The average person cannot or does not read the prospectus. Most prospectus are 
written to be vague so the average person cannot understand it. A short term government 
bond fund should be called a short term government bond fund and not some strange title 
that can be deceiving.

Thanks 
Robert DiGiambattista