Subject: File No. S7-06-04
From: Loretta F Cochran, Ph.D.

March 28, 2004

In the first attachment, Section B solves an issue that has bothered me for years. It provides a clear and detailed description of ALL fees and charges associated with the sale. One thing that is not clear to me is if the firm would have to disclose their account management charges prior to the customer opening the account. Fidelity did not inform me of the account management fees until after I had opened an account. That was a big problem. Otherwise, these new forms are great