Subject: File No. S7-06-04
From: Eileen J Di Ruocco

April 2, 2004

I heartily agree that brokers should have to provide clients with the complete cost of stock and/or mutual funds purchases both direct costs and indirect costs as well as potential conflicts of interest. Too many times only the broker makes money on transactions not the client. I have had too many brokers try to convince me to allow him to sell everything I own and invest in only the funds he recommends. Of course, the only one making money in that situation is the broker It is time for that kind of foolishness to stop. Hopefully, full disclosure will help.