From: TCWALKER [grnisle@verizon.net]
Sent: Tuesday, March 09, 2004 4:33 PM
To: rule-comments@sec.gov
Subject: S7-03-04: 

Dear Sirs,  I am in complete agreement with your proposed changes to the 
governances standards of the investment advisors company boards.  The Fund 
companies and the Advisers should have complete independant boards.  While your 
changes are moving in the right direction in advocating for a more independant 
boards.  I believe it still allows for too much room for cornyism and nepotism to 
play out on what should be truley independant directors.  Thank you for allowing 
our imput on this matter.  I would hope there will be more effort from the SEC to 
give investors a fair and even playing field in the future.
Tom Walker