Subject: File No. S7-06-04
From: Hosea M Alexander Sr

March 18, 2004

Brokers should disclose specific information about fees and expenses the buyer has to pay for mutual funds and other products. The buyer also needs to know whether the broker is collecting a fee for Making a market in a mutual fund or other product that the buyer intends to purchase. In other words, the buyer needs to know whether a broker may be in a conflict of interest situation.