Subject: File No. S7-25-99
From: George A Loomis, CFP

September 16, 2004

The above-cited rule is patently unfair, allowing broker-dealers to circumvent the fiduciary responsibility assumed by certified financial planners and other professionals for the protection of consumer investors. Adoption of this rule would allow a privileged class of brokers to avoid responsibility for their advice, to the detriment of their clients. There is absolutely no reason to adopt this rule, other than to allow abuse.