From: Carl Kunhardt, CFP, CFS [ckunhardt@rjfs.com] Sent: Tuesday, July 23, 2002 6:53 PM To: rule-comments@sec.gov Subject: File No. S7-25-99 I remain concerned that the proposed rule referenced above is still subject to consideration and has not been withdrawn. I find it difficult to believe that given current events, the SEC continues to believe that the minimal disclosures and requirements of the rule are appropriate to any person that publicly represents themselves as providing investment advice. The investing public is best served by ensuring that anyone that represents themselves as an financial or investment advisor be subject to the registration and disclosure requirements under the Investment Advisors Act of 1940. I urge you in the strongest possible terms to withdraw this ill conceived proposed rule from further consideration. Sincerely, Carl J. Kunhardt