Subject: File No. S7-06-04
From: KAren I Schwenk

March 29, 2005

THere is a fine line between disclosure and bombardment. And it seems that this new forms regulations has indeed crossed it. We; as agents are licensed and watchdogged by the SEC/NASD - I am well aware of our continuous need for disclosure. As it is currently - between obtaining the Drivers License info on suitability and asking all income and asset ?s - to reviewing fees and all costs to clients already done on Suitability - to the newly added 2004 Mutual Fund Disclosure Form - and an additional form if Class A is sold... Now - a whole new set of forms? I am all for protection of the client. The fact however -remains that people get MORE SUSPICIOUS with the barrage of forms meant initially as developed by SEC/NASD to protect them from unscrupulous agents. WE - as honest agents are being penalized for those who have demonstrated unscrupulous behavior leading to this need as seen by our Watchdogs. Why dont you save the need for this form for those agents only - who have been audited with merit? Why punish all of us? Why impose more demands on the client who is already spending over 1 hour completing forms as it is - especially with this venture - which is not filling any void not already covered?