Subject: File No. S7-12-06
From: Didrik P. Stene

January 20, 2007

-Dear Madame / Sir,

The Grandfathering clause has to be abolished now
As an investor I have totally lost faith in the SEC#8217;s ability to govern the markets and will not invest any further without this clause gone.
I have been hurt financially by this clause and am frustrated and angry the SEC has dragged their feet until now.

Please do the right thing this time and don#8217;t extend this any further

Didrik Stene.