June 2, 1997
Arthur Levitt, Chairman
Securities and Exchange Commission
450 5th Street N.W.
Washington, DC 20549-6009
     
Dear Sir:
     
Re: File No. S7-18-96

        It would be a mistake to permit the greed of self-serving
special-interest groups to block the prospectus reform America's investors 
need and want. We urge you to move expeditiously to implement mutual fund 
profiles and plain English prospectuses.
     
        A review of comments available at your Internet site indicates that
whatever opposition exists to profiles comes from, or is stimulated by, 
commercial interests that currently sell mutual fund profiles to the 
public. It is hardly surprising that people in the business of selling 
profiles are opposed to funds being permitted to give investors the 
profiles they want.
     
        To the contrary, the fact that tens of thousands of investors are
currently willing to pay for profile-like compilations of mutual fund 
information proves the usefulness of this format, and the need to permit 
funds to make profiles available to all investors.
     
        Lengthy, verbose prospectuses force the public to turn to
commercial sources to obtain the information they want in a usable format. 
Investors will be better served by funds issuing brief, understandable 
profiles that will actually be read and used.
     
        On behalf of our 650,000 readers, we urge you to move ahead with
those investor-friendly initiatives.
     
        Thank you.             
                                Very truly yours,
                                Glen King Parker
                                Publishing Director
                                Mutual Funds Magazine
                                (gkp@mfmag.com)