Subject: File No. S7-06-04
From: Jeremy Monte, JD

April 2, 2005

I have had a chance to review this proposal and I feel that it is imperative that an extensive review process be taken. Therefore a reasonable thirty day extension should be granted with respect to this proposal. As a former securities lawyer, I identify with the dramatic changes sweeping this industry. However, I feel those changes require time, reflection and proper implementation. Extend the period of time to reflect on this change. Allow for proper feedback from our industry and take into consideration all that is received.