Subject: File No. S7-06-04
From: John S. Foster

March 19, 2004

The proposed rules are a very good idea. However, I have a concern about the investor receiving this information BEFORE making a purchase. Often, when dealing with a broker, the investment is made on the telephone as a result of a broker recommendation. In such cases, the prospectus is received days later. Brokers should be required to verbally state these costs when taking telephone orders then follow up with mailing the printed information.