From: Charles Rendina
Sent: January 29, 2007
Subject: File No. S7-25-06

Dear Sir or Madam: I write to express my opposition to changing the definition of accredited investor in relation to hedge funds for the following reasons:

  1. The rich have enough advantages to increase their wealth

  2. The action is paternalistic in that it assumes those with less are not capable of making informed choices.

I would prefer my rulemakers to impose a regulatory regime that required disclosure by hedge funds so that investors could make informed choices rather than to limit those choices based on wealth.

Yours truly

Charles Rendina