Subject: File No. S7-06-04
From: John E. Dulfer

February 17, 2004

-Proposed SEC Mutual Fund Disclosure Forms

1. I am concerned that brokers not have onerous additional reporting requirements paid for by investors. In this regard, please reconsider the industry norms brokers must report--who calculates these and is responsible for their accuracy?

2. Experience convinced me that Fidelity Investments, which served as my broker and source of mutual funds, receives undisclosed compensation from certain funds in return for charging reduced sales fees for these funds. Such compensation may be included on the forms as revenue sharing, but if not it should be added.