April 4, 2005
I have just become aware of the proposed rule indicated above S7-06-04 and am requesting this rule NOT be passed. This rule if passed would only confuse, frustrate and cast undue suspicion on transactions that would be in the best interest of the client. This rule borders on the presumption that the broker/dealer and/or the registered representative involved in the transaction is guilty of wrongdoing in all transactions...at least that is the impression that will be given to all clients.
I understand that the SEC is trying to protect the consumer, but this rule will force the consumer to doubt the integrity of his/her financial advisor.
Thank you for your attention. Please do NOT pass this rule.