From: DIANA L DAVIS [dianadavis@prodigy.net] Sent: Wednesday, June 26, 2002 4:42 AM To: rule-comments@sec.gov Subject: subject File No S7-25-99 I can not believe you guys at the SEC would consider allowing Broker - Dealers with out being subject to registration under the Investment Advisers Act of 1940. Do you really think the public wants relaxed requirements when handling their money and future. Do you want to hold on to your good well deserved reputations or "appear" that you are in bed with the "enemy". The appearance looks bad, the results are bad, do not compromise on this issue. Make all people adhere to the same standards or else risk your reputations and perhaps your jobs. Sincerely Diana L. Davis