From: Jerry Fan [jfan@nuconnet.com]
Sent: Wednesday, November 07, 2001 4:19 PM
To: rule-comments@sec.gov
Subject: Proposal 33-7656, File S7-10-99

To whom it may concerns:
 
66,000 or more Canadian citizens live in the States would welcome the proposed 
changes. This proposal has been in place for two and half years. Enough has been 
said about the unfair and very restrictive existing rules. When can we see it 
being made into a law/regulation? I wish SEC's website would publish the status 
of and the planned actions on the proposals so people would know what results 
and how long we can keep waiting for. Would someone from SEC reply to my e-mail?
 
There must be complications with respect to the rule changes. For majority of 
affected people, RRSP (registered retirement saving plans in Canada) is the 
paramount and maybe the only concern. One can not contribute to the plan without 
employment income in Canada for the year concerned. People left Canada neither 
can make new contribution nor receive tax reduction, which is the reason for the 
contribution. But one do need and should have the right to manage their portfolios 
in mutual funds. The current rule does not even allow for switching between the 
funds in the same fund family. For the past one year and half, people like myself 
was sitting there watching the retirement money in mutual funds going down the 
drain but couldn't make any adjustment. If SEC can't satisfy other concerns very 
soon, please relax the rule in this aspect now.
 
Jerry Fan
Vernon Hills, IL 60061-3163