Subject: File No. S7-03-06
From: Jaime A Hinojosa, CFP(r)
Affiliation: University of San Francisco Family Resource Center Affiliate laison

February 13, 2006

Not only is this rule too onerous and will ultimately be difficult to comply with, it will lead to more abuse. Many senior citizens that I work with understand disclosure but would like the font in a larger size and in black and white. When there are too many words to crasp and to retain most of these senior citizens (60 and above) give up and usually forget what was disclosed. There is just too much gray. They do this as well after listening to an explanation by a lawyer about their estate plan. They ask me to explain to them what was said afterward. Why could we not come up with a simple way to disclose that someone will actually read? I would propose that you go back to the drawing board, shorten the disclosure and make is easy to understand. I think using graphics on the costs as well would improve the messsage being sent. Remember a picture paints a thousand words Maybe this way we can all be on the same page. Thank you for reading this.