Subject: File No. S7-25-99
From: Frank Curcillo

September 12, 2004


I am a individual investor and wish to comment on S7-25-99 proposal. There should be same standards applied to all types of sellers of financials and absolutely no exemption.. All involved in the market place should disclose financial incentives no matter what they are. Disclosure of disciplinary issues should be mandatory . Why are the stockbrokers reluctant to disclose ? It is it because they are hiding some illegal activity. It is the utmost of fidelity, that the public demands. It is your examination of the industry that the public relies on. Your exemption, will not instill confidence in consumers, please withdraw your proposal and level,the playing field. Donot give in to the lobbyist but protect the consumer.

Thank you,

Frank Curcillo
5533 Avellino St
Sarasota, Fl 34238