Subject: File No. S7-06-04
From: Terry A. Hurlbut

March 17, 2004

Gentlemen:

Well, its about time.

I have followed the news concerning mutual-fund sales and how brokers push them on investors who often have no business investing in that particular sector or even being invested in stocks at any particular juncture. The recent market-timing scandals are a trifle compared to the real scandal of brokers accepting commissions from the fund managers for the placement of their funds in investors portfolios, again without due regard for investor risk tolerance or even an investors overall financial plan.

I also commend the SEC for designing forms that are easier to read than most forms I have received from banks, brokers, et cetera. I especially appreciate the Glossary on the back--though I would prefer that the Glossary be written in plain English, not in bank-speak.

In sum: I urge the SEC to proceed with its rule change, with the qualifier that I would like to see a glossary with definitions that are written for the likely reading level of the typical customer.

Terry A. Hurlbut