Subject: File No. S7-25-99
From: David J Chapman

February 1, 2005

Allowing broker/dealers to avoid the fuduciary responsibilities that financial planners and investment advisors are obligated to adhere to is unfair. Brokers are used for thier financial lnowledge and thier advice is taken in the same way that planners and advisors advice is. So the playing field should be level for all financial professionals and to protect all clients.