From: Lloyd Lokka
Sent: February 13, 2006
Subject: File No. S7-06-04

This is another case of overkill. My clients have a tough time understanding all of the documents they are presented. The type of thing you are proposing will be beyond the capability of the average fund investor to understand and even worse will take all sorts of money out there investment portfolios by creating another expense for the mutual fund. Don't do another overkill.

Lloyd Lokka, Fallbrook, CA

PS: Chris Cox - this seems to propigate the legal concept that all businessmen/representatives are dishonest and that only regulations, no matter how unusable by the investor, will keep them honest.