Subject: File No. S7-06-04
From: Steve P. Hagan

March 30, 2005

Dear Sirs,

I am a licensed security and insurance professional. I believe the proposed rule regarding the referenced file number above is unnecessary and will not provide any meaningful protection to consumers. I speak with over 25 years of client experience and involvement.

I also believe the additional expense and cost of providing the proposed disclosures are duplicates of the prospectus requirements. WE don't need to give the clients more material. You need to get the consumers to more carefully read the material they are currently given.

Don't throw more paper at the problem, (if a problem even exists). Save more trees. Don't increase the cost and expenses to the industry; that like any retail product; just ultimately gets passed on to the consumer.

Please withdrawal the proposed rule. If a problem exists, attack it from a different perspective.

Thank you for the consideration of my views.

Steve P. Hagan
Certified Financial Planner Practitioner