Subject: File No. S7-25-99
From: David Klausner
Affiliation: consultant

October 31, 2004

I am a financial consumer and I ask the SEC to rescind this rule so that everyone who offers financial advice be regulated the same way, even though they are sales people. This ensures all of the consumer protections in place. There is enough fraud and misrepresentation in the U.S. that takes older people particularly as prey. Your proposed rule would harm more than do good.