From: Thom Gmeinder [thompop3@hotpop.com]
Sent: Wednesday, January 28, 2004 1:49 PM
To: Steve Lanier
Cc: SEC
Subject: New Confirmation and point of Sale Disclosure Requirements

    I strongly support the proposals to change the operations of 
Mutual Funds.  I think that it is criminal that things like soft 
money, and other brokerage expenses are allowed without disclosing 
the true costs to buyers.  
    This issue seems to me to me to be like the "truth in lending" 
requirements where the true interest rate must be disclosed.  The 
lending institutions fought it saying that it couldn't be done and 
it would bee too expensive to consumers.  Where all it has done is 
give consumers opportunities to make informed decisions and run the 
bad actors out of business.
    I also do not understand why the owners of the mutual funds are 
not the Board of Directors rather than people from or picked by the 
investment advisors.  It makes no sense, trust us we will not pay 
ourselves more than what is fair!   I do not believe that we should 
allow people with conflicts of interest to serve or at a bare minimum 
we should force them to disclose any and all possible conflicts.  It 
should be easier for owners of the funds to elect others to the 
Board of Directors.
    Thank you for your time and consideration.

        Thom Gmeinder
thom@gmeinder.name