Subject: File No. S7-06-04
From: Gerald E De Maire, Mr

January 30, 2004

I feel the proposed new forms and rules are a step in the right direction. Unfortunately they are long overdue.
It is my opinion the SEC has failed miserably in protecting the investing public from dishonest and misleading activities by the investment industry. Recent actions, sanctions and penalties have resulted in slaps on the wrist and fines that are no more than a traffic ticket to the offenders. These settlements without any admission of guilt, by their very nature, condone the actions of the offenders.
If this nation is to have liquid, vibrant securities markets, it need you to do all of your job, not just the part about promoting markets. We need some integrity in the markets and only you have the power to promote and enforce reasonable standards.
I do not believe you should set or encourage rates or fees. I think it is your job to assure the public has honest and accurate information available and the investor has the responsibility to find the best investment vehicle for themselves.
Thank you for this opportunity to express my opinion on this timely subject.
Gerald E. DeMaire