Subject: File No. S7-06-04
From: Karen McFall

March 30, 2005

Dear Sir/Madame:

These proposed rules are totally unnecessary. The added paperwork makes our job almost impossible. Many of us are dealing with small investors who rely on us to provide them with products that meet their needs for retirement, college education, etc. They are neither interested in, would not read,nor understand most of the paperwork already required. Please do not put this added burden on those of us trying to make a living by helping clients reach their financial goals.

Karen McFall