From: Richard Henery [rmuel7755@yahoo.com] Sent: Friday, December 06, 2002 11:24 PM To: rule-comments@sec.gov Subject: S7-38-02 Mr. Secretary: I appreciate the opportunity to comment on your proposed rule S7-38-02 titled Proxy Voting by Investment Advisers. I support the proposal outlined on your web site sec.gov. I feel it to be most important for an ordinary person trusting their financial future to, for example, a broker or invsetment advisor, to be able to know how they vote the shares that they purchased or recomend be purchased. They effectivaly use a persons money and charge the person to manage their funds. I see no reason for outlandish stock option plans, multimillion dollar salaries or "off the books" financial arrangements or the use of less than "on the street" reputable audit firms. If the advisor and/or companies agree that they have a fiduciary responsibility to their clients, they should be willing to share the information on how they vote on items such as those listed above and in your draft rule. I would also be interested to know if a fund is really interested in maximizing dividends. I would like to know if an advisor (or another investment person or group) owned CISCO and, in the recent past, voted against the proposal to institute a dividend. I could use this information decide were to place or move my retirement funds. Providing this information would not involve the release of harmful proprietary information assuming the advisor, broker, or firm exercises diligence and really votes their shares on their clients behalf. Of course there could be negative consequences for the person or group if they were less than vigorous in protecting shareholder interests but to me this is one of the major purposes of the proposed rule. I would also like to see the information rapidly published, preferably before the shareholder vote, in an easily accessible place such as a web site. This would be in addition to the proposals in the draft rule above. This rapid publication would be in addition to the procedures proposed in the draft rule. None of these items would be a major chore for an investment advisor, firm or broker. The day of electronics has arrived and such information is only a computer program away. In fact, sending an email to their clients should not be a problem. Should there be any questions, any spam artist would be glad to help them out for a trivial fee. Thank you very much, R. Mueller 1001 Green Bay Road #310 Winnetka, Il 60093 -------------------------------------------------------------------------------- Do you Yahoo!? Yahoo! Mail Plus - Powerful. Affordable. Sign up now