From: Grant Simon [gsimon@fimadvisors.com]
Sent: Friday, May 07, 2004 3:24 PM
To: rule-comments@sec.gov
Subject: Comments on File Number: S7-09-04

Jonathan G. Katz, Secretary
U.S. Securities & Exchange Commission
450 Fifth Street, NW
Washington, DC 20549

In Regards to File Number: S7-09-04

To Whom it may Concern:

I am continually amazed by the regulations placed on registered reps who are "in 
the field" trying to provide for their families.  How can one be expected to 
provide services to THEIR clients over the lifetime of an investment, if they 
are paid nothing??  If this question can be answered, I would be more than 
inclined to hear the logic of the explanation.  Until then, I find it ridiculous 
that registered reps are perpetually put into a position involving situational 
ethics, in order for them to be compensated.

Grant L. Simon
Registered Representative, MSC