Subject: File No. S7-06-04
From: Tom Scallon
Affiliation:

March 30, 2005

Dear SEC,

I am oppossed to your propossed
new regulations. We already have
the SEC ACT of 1940 full disclosure.

I am all for better communication with the public
and have had a very good practice helping clients
make good financial decisions for over eighteen
years.

Do we not already diclose the sales fees associated
with security products with the prospectus we give
our clients and review with them prior to their
purchase of these plans.

Let's put out a notice to the public and all potential
investors that investing does have an upside but it
also has a down side and I think the public needs
to understand that investment products (mutual funds
and variable products) do have down sides and are
driven by the economy. So if they lose money and
can not afford to be in these products for the long
term then they should not be purchasing them.

All investments fluctuate I feel that no one today wants
to take responsibilty for there planning it's always
soemone else's fault if the fund, or product does not
go up positively each and every year.

Let's educate our customer's on long term investing
and starting early with savings. Let's encourage our
population to live under their means not over their
means and in revolving charge debt.

Thank you

Tom Scallon
Financial Professional