From: Shawna Shumate [sshumate@ddresorts.com]
Sent: Wednesday, November 06, 2002 10:47 PM
To: 'rule-comments@sec.gov'
Subject: (S7-40-02) Disclosure Required by Sections 404, 406 and 407 of
the Sarbanes-Oxley Act of 2002

As an individual investor it is my opinion that The Exchange Act of 1934 is 
a disclosure statue with limited effectiveness as is the regulations that 
have followed over the years.  The current Disclosure proposal follows the 
trend in that it is not substantive.  It does not tell management of a 
company what they can or cannot do, but rather merely requires that they 
disclose what they do to the public.