Subject: File No. S7-25-99
From: Felicia Gopaul, CFP

August 26, 2004

Please withdraw this rule proposal. It does not make sense for brokers to be held to a lower standard than RIAs. Its in the best interest of consurmers that ALL conflicts of interest be disclosed. As confusing as investment advice can be, lets not add an additional layer to what consumers have to think about. Is this person required to share conflicts of interest with me or not?