Subject: File No. S7-07-12
From: Michael A Watson
Affiliation: Corporate Counsel

May 22, 2013

File # S7-07-12

My small business and franchise clients are asking me
when the law past over a year ago will have the SEC
rules finalized. The proposed rule meets their approval
and the majority of them are anxious to get the rule
enacted. Uncertainty is a major problem for their
business. Please expedite the proposed rule.