Subject: File No. S7-06-04
From: Hugh E Nichols
Affiliation: Registered Representative

April 1, 2005

The proposed Point of Sale Disclosure requirements will be extremely burdonsom and cumbersome as well as limit my ability to provide a full pallett of investment alternatives to my clients and prospects when appropriate. Please delay this action for more discussion and consideration of effect to business.

This is a rush to judgement that hampers good business.

Hugh E. Nichols