From: Rep.Vrakas [Rep.Vrakas@legis.state.wi.us]
Sent: Friday, June 13, 2003 4:06 PM
To: 'rule-comments@sec.gov'
Subject: Re: S7-10-03

Jonathan G. Katz, Esq.
Secretary, Securities & Exchange Commission
450 Fifth Street NW
Washington, DC  20549-0609


Dear Mr. Katz:

I am a member of the Wisconsin State Legislature and co-chair of the Joint
Survey Committee on Retirement Systems, which has legislative oversight over
the Wisconsin Retirement System (WRS).  I am well aware of the adverse
effects that corporate fraud has had on the 500,000 members of the WRS.  As
a legislator, I know that this fraud may have also harmed many constituents'
pensions and other savings.  I believe that shareholders must be better
protected and I applaud you for reviewing the proxy rules to improve
shareholder rights.  

In particular, I support efforts to give shareholders access to the
company's proxy materials to run a non-controlling slate of directors,
provided there are protections built in to the process to avoid misuse of it
for takeover or other inappropriate purposes.  I am also concerned about the
ability of brokers to vote proxies in place of clients who choose not to
vote on election of directors.  This kind of process would not be tolerated
in any other kind of election.
	
Thank you for taking my comments into consideration.


Sincerely,


Daniel P. Vrakas
State Representative
33rd Assembly District
-------------------------------------
P.O. Box 8953 *  Madison, WI  53708-8953
Capitol Office:  Toll-Free (888) 529-0033 * (608) 266-3007
Residence:  (262) 367-5201
Rep.Vrakas@legis.state.wi.us
Homepage:  http://www.legis.state.wi.us/assembly/asm33/asm33.html