Subject: File No. S7-06-04
From: Tom Slaten

February 16, 2004

I have always expected that all charges and fees were and would be shown as they were/are charged to my account on my quarterly statements, along with a sufficient explanation to be clear, as charges/fees are shown on my bank statements.

It now appears that some fees/charges are so shown, while most fees/charges are not.

This inconsistent handling of disclosure is unfair, misleading, and unacceptable, and seems to be a method of concealing the largest part of those fees/charges.

There also needs to be complete disclosure of all compensation, INCLUDING stock options, to all those receiving compensation along with an explanation of how the payments options are calculated and why those payments are made, and the full terms of any stock options.

I look forward to receiving a response from the SEC concerning the above.