Subject: File No. S7-06-04
From: Denise A Izatt

March 3, 2004

To Whom It May Concern,

In starting to review SEC Rules 15c2-2 and 15c2-3, I am requesting that additional days of at least 120 be granted so that we have enough time to review the impact this may have on our relationship with clients and our business. I hope this is possible given the magnitude of the bill and potential impact - it should not be a rush decsion.

The Mutual Fund Reform Act of 2004 also needs to be examined carefully and a logical decision reached after careful consideration. The total elimination of 12b1 fees would drive many planers out of business as well as their staff. This is at a time when jobs are needed. In addition, many clients would have no person to service their account. Given the recent developments in the financial arena, things need to be examined but not everyone should be lumped together and punished for others poor decisions. Many planners are working hard to provide quality service to their clients and the planning industry is important - especially given where social security is today.

I urge you to review things carefully and take the tiem to make decisions that are well thought out and beneficial for all involved.