Subject: File No. S7-06-04
From: Rolf H. Henel

March 17, 2004

I am opposed to the proposed new requirement regarding divulging greater breakdown of brokerage andm other fund management fees. I believe we are asking our government to impose too many demands on financial and other institutions, including public traded companies, in a naive belief that we can legislate utopia. Ultimately people must learn to accept responsibility for their own investments and to join forces with public interest groups and other shareholders and mutual fund holders to protect their interests. We are legislating our country into a state controlled economy, which will ultimately collapse under its own weight.