From: JBruceSyn3@aol.com
Sent: Wednesday, May 12, 2004 11:56 AM
To: rule-comments@sec.gov
Subject: S7-11-04: 
SEC:

This proposal is a vast overkill, in that in the relatively few cases that exist, 
expenses incurred by the funds have been more on the order of 0.2%!

Further, the funds should not be allowed to levy fees for longer perioids of time, 
since the trades under scrutiny have typically been of one day duration.  Adding 
fees for longer periods benefits only the fund manager, not the trading public.

All along, fund companies have been able to levy charges of up to two percent to 
inhibit short term trading, yet they have not chosen to do so.  does it make 
sense, then, to levy a mandatory fee when the funds have not chosen to levy the 
"up to 2%?"

Regards,

Bruce Synnott
25W150 Brandywine Court
Naperville, Illinois 60540