Subject: File No. S7-25-99
From: Frederick Greene

February 7, 2005

The public relies on the SEC to make wise decisions to protect the publics interests. By allowing broker-dealers to give advice concerning investments while being exempt from the Investment Advisors Act is wrong. This will allow the broker-dealers to profit at the consumers expense. Consumers have a difficult time understanding the financial services industry and here is an oppurtune time to help establish clear guidelines that will help consumers. It is very difficult for me to understand why you would exempt broker-dealers. The amount of dishonesty, conflicts-of-interests and self-serving behavior in the financial services seems to be at an all-time high right now, please set some concrete guidelines to help consumers have faith in the advice that they recieve.