From: Jdxtr@aol.com
Sent: Wednesday, June 23, 2004 2:37 PM
To: chairmanoffice@sec.gov
Cc: rule-comments@sec.gov
Subject: Support Independent Fund Board Chairmenn (s7-03-04)
Dear Chairman Donaldson: 

I strongly applaud and support the decision of the Securities and Exchange 
Commission to require independent chairmen of mutual fund boards and reduce 
insider board membership.  Elimination of these blatant conflicts of interest 
was long overdue.  For that reason, I have made it a practice for several years 
to vote against insider directors.  Unfortunately, ignorance of the issues and 
apparent apathy on the part of most shareholders have long delayed this 
correction.  Only the recent mutual fund scandals seem to have had the needed 
effect. 

I regret only that the new rules will not take effect for 18 months.  I 
respectfully urge the Commission to accelerate the effective date and to stand 
firm in the face of fund industry lobbying against these rules.   

I understand that these rules will cause major change in the mutual fund 
industry.  That is as it should be.  It is clear that the industry cannot be 
expected to regulate itself in these matters, since its objectives are naturally 
often at odds with those of shareholders. 

I further undedrstand that these rules cannot prevent all abuses, but I am 
certain that they will result in more focus on serving the interests of 
shareholders rather than those of the fund companies. 

Thank you for taking this much-needed action to protect the foundations of our 
economic system. 

Please forward copies of this message to Commissioners Atkins, Campos, Glassman 
and Goldschmid. 

John D. Larson 
Nevis, MN