Subject: File No. S7-06-04
From: Alan M Holzberg

March 19, 2004

I am definitely in favor of increasing disclosure requirements for financial advisors, fund managers, etc. Individuals should be fully appraised of the compensation advisors get when they make certain recommendations. This is not only true for Mutual Funds, but particularly should apply for Bond Sales where it is difficult to really understand real underlying value other than a quoted interest rate, and traditionally, the first time you get a statement the bond is not worth what you paid for it, implying a built in commission structure that was never disclosed.
As to mutual funds allowing after hour trading - that is outright unacceptable and in fact should be considered a crime as theft of value is being undertaken for the privalege and benefit of a few who essentially have made a payoff to the fund management in some financial means.