Subject: File No. S7-06-04
From: David M Hinman, J.D.

March 15, 2004

You already require investment companies to publish reams of information which I find to be practically useless. These government mandates all sound nice, but they pass on hidden costs which are utimately paid for by the investor. Instead of adding more and more costs of doing business, have you ever done a cost/benefit analysis of existing as well as proposed regulations?

By the way, I have found that information about loads, fees, commissions, etc. is already available, if one cares to look for it.

David M. Hinman, J.D.