Subject: File No. S7-18-04
From: Joseph Smith

April 13, 2004

You cannot adopt this proposed rule fast enough. The existing SRO rulemaking process is virtually opaque, no prior notice of many very important rule changes is truly available, so not only can interested parties not comment, interested parties cannot comply with adopted rules because they are not available in any meaningful way. The Commission should expand its own website to display ALL SRO rulemaking petitions when they are filed.