From: Nick Filing [nfiling@everestkc.net]
Sent: Thursday, April 29, 2004 3:07 PM
To: rule-comments@sec.gov
Subject: Elimination of 12b-1 fees (S7-09-04)

I believe that the elimination of 12b-1 fees is not the correct way to deal with
the abuses of some companies regarding mutual fund compensation.  The vast
majority of 12b-1 fees are paid to registered reps who provide an ongoing
service to their clients and have legitimate expenses in regard to providing
that service.

I am a licensed registered representative who is a registered principle.  I do
not receive 12b-1 fees since I do not have personal clients.  However, I expect
my reps in my firm to properly service accounts, and they must be properly paid
for doing that.

Thank you for your careful consideration of this position.

Nicholas A. Filing