From: Duane Hinrichs [mailto:Duane/fpg4u@mcleodusa.net]
Sent: Tuesday, July 09, 2002 10:29 AM
To: rule-comments@sec.gov
Subject: S7-25-99

I have reviewed the proposed rules under S7-25-99 relating to exempting certain B/D activity from
the Investment Advisers Act of 1940 and would respectfully ask that it be WITHDRAWN.  I believe
this is not the time to liberalize B/D activity, it creates regulatory biases in the market place,
and it would compromise standards within the profession.

Thank you for receiving my comments.

Duane Hinrichs