From: Tim Smye
Sent: March 14, 2007
Subject: File No. S7-25-06

I oppose the increase of the accredited investor net worth limit. I am a former stock broker and have had the good fortune to have been investing in hedge funds since 2001. Your new rules would preclude me from further investing in these wonderful products. This is totally discriminatory; as is the $1,000,000 limit! If distribution is only to be made to sophisticated clients then give that responsibility to licensed distributors. As I enter into semi-retirement, I need these investments!

Tim Smye