From: Knoknock@aol.com
Sent: Saturday, April 03, 2004 12:03 AM
To: rule-comments@sec.gov
Subject: S7-06-04:
To whom this concerns,

The only thing I would add; I support all of these proposals, however, I would 
go one step further; I would PROHIBIT conflicts of interest altogether.  

I know that brokers would cry "foul" but the existence of direct conflicts has 
proven too costly, and the average investor is under increasing pressure to "Get 
involved" with his/her companies 401K plan, and most of them will never treat 
them any different from a savings account.  For this reason, the average 
investor will lack the sophistication of an informed investor, thus they will 
need the SEC to make sure brokers don't have an incentive to swindle their 
clients.  It is painfully obvious that the mere existence of such broker 
conflicts have proven to be very disastrous in the past, and you don't have to 
even look that far back to see the cause and effect of such conflicts of 
interest.

Sincerely,
Scott Pacheco