August 26, 2004
SUBJECT: FILE NO. S7-25-99
I urge you to withdraw, not amend the proposed rule for two reasons.
The proposed rule allows two standards of conduct. One for the REgistered Investment Advisor and a different, less stringent one for Stockrokers and their firms
The proposed rule will harm the public . By permitting non disclusure of conflicts of interest, it allows stockbrokers and their firms, to misrepresent their primary sales role as one of a fiduciary advisor by receiving fee for advise.
Scott Leverenz CRPC
The Financial Resource Group