Subject: File No. S7-25-99
From: Elizabeth A. Suskind

August 23, 2004

I strongly urge you to withdraw the Broker-Dealer Rule Exemption proposal. It doesnt make sense that there should be two standards of conduct for persons offering financial planning services: a higher fiduciary standard for registered investment advisers and a lower one for Broker-Dealers under NASD rules. The proposed rule for exempting brokers from being required to disclose conflicts of interest is not in the best interests of the public who the SEC is trying to protect.