Subject: File No. S7-06-04
From: William J. Rochelle, Ph. D.

March 11, 2004

Yes, I most definitely am in favor of implementation of the rule. The Mutual Fund industry has been less than honest with the investing community in more than one way. Half truths and distorted statistics indicate a willingness to obfuscate accuracy and magnify actual returns. The recent difficulty requires some authority to promote an increase in trust. Thanks for your time.