From: Matt Viola []
Sent: March 17, 2004
Subject: File No. S7-14-04

Hello -

I have read about the proposed new filing system for submitting Form ID's, and I see you propose that new filers submitting an Electronic Form ID application would be required "... to file in paper by fax within two business days before or after electronically filing a Form ID a notarized document, manually signed by the applicant... to confirm the authenticity of the Form ID"

I also see that you expect that "eventually [you] will replace this procedure with a requirement that applicants use a certificate from a certification authority to authenticate their Form ID filings."


1) If you think about the current faxed application process, where applicants (a Director/Officer, or the Individual) sign a faxed Form ID. There has never been an 'authentication step' for this process... in other words... you have never authenticated these signatures in the past. It's possible that someone can simply forge an applicant's signature and submit a faxed Form ID. There is no way to authenticate signatures, as you cannot be expected to keep a database of handwriting samples. Further... how is it possible to even verify if the person signing is, in fact, a Director or Officer of the applying company?? Someone could make up a fictitious name and submit a Form ID.

2) I believe that mandating the fax filing of a "backup paper authentication" in addition to submitting an Electronic Form ID will actually create more problems in the application process. Applicants will now have to submit a NOTARIZED faxed form, in addition to submitting an electronic form... where to date, applicants only need to submit the faxed form (no notarization necessary). These extra steps will likely cause delays and confusion at the Filer Support Desk and applicants will still need to deal with encountering busy signals every time they try to transmit a fax.

3) I suggest that you reconsider the importance of authenticating signatures for code applications. I also suggest that you reconsider the importance of requesting the information required in PART II of the Form ID. I never understood how Tax ID and File No. information pertained to the processing of new codes.

4) On many occassions, I have dealt with frantic filers who - due to a merging of companies, for example - need to apply for new codes for a filing to be submitted within a few hours. While I have seen a dramatic improvement in the current 2-day turnaround time for access codes, I suggest that the new electronic system be able to process codes instantly, if possible.

5) I understand the technological limitations you have to consider when creating this new filing system. I also understand that an automated process for attaining access codes has certain inherent pitfalls... such as duplicate applications; syntax issues; usage issues (ADR filings, for example); etc...

These are only a few observations I have made regarding the Form ID application process. If you have any questions or would like to further discuss my comments above, please feel free to contact me.

Thank you.

- Matt

Matt Viola
Weil, Gotshal & Manges LLP
EDGAR Project Manager
767 Fifth Avenue
New York, NY 10153
Tel: (212) 735-4865
Fax: (212) 310-8007