From: Arno Berry
To Whom It May Concern:
I serve as a securities principal. Part of my duties is to review new business applications/account transfers submitted by reps for approval.
It seems that virtually all broker/dealers have some form of Mutual Fund Disclosure document that clients must review and sign.
In addition, the media continuously educates customers about mutual fund transactions.
It is my opinion that the proposed SEC point-of-sale rules detailed in File Number S7-06-04 are quite onerous and completely unnecessary. In consideration of our current regulatory environment, broker/dealers appear to be doing a very adequate job of providing mutual fund disclosures to customers.
I respectfully request that File Number S7-06-04 be vetoed.