Subject: File No. S7-06-04
From: Nick P Christenson

May 26, 2004

With all due respect, I cant imagine why the rules changes
you are considering here are not already in effect. They
seem like no-brainers to me. I strongly encourage you to
adopt them as soon as practical.

However, I hope you wont stop here. The bottom line is that
mutual funds have done their damnedest to be impenetrable to
their customers, a situation that I find unconscionable.
The transparency of our banking system is often considered to
be a main driver of our economy, despite many institutions
attempts to keep their secrets. Certainly, increasing
transparency in the mutual fund business benefits everyone
in the long term. In general, informed investors are better
for everyone, and companies that truly want my business
should have nothing to hide.

Please adopt these rules, and please, please dont stop
here. The small investor is the primary engine of the
US economy, and in my opinion, the primary role of the SEC
is to make sure that big business plays fair with their
small customers.

Thank you for your time.