Subject: File No. S7-06-04
From: Kwame Kwakye

March 8, 2004

While the goal of eliminating mutual fund trading abuses is a good one, the proposed solution is absurd. Imposing a 2 fee on investors is akin to charging a patient for a doctors errors. Why not simply go after the funds that continue to engage in illegal activities? Providing another source of revenue for mutual funds is clearly not the right answer.