From: Gregory Merlino [gm@ameriwayfinancial.com]
Sent: Wednesday, June 26, 2002 4:21 PM
To: rule-comments@sec.gov
Subject: file # S7-25-99

Gentlemen,
I am writing you to express my strong recommendation that you withdraw 
the above proposed rule that permits broker-dealer activity an exemption 
from registration.  At a point in time where investors are questioning 
financial disclosures at the corporate level, and where a crisis in 
confidence currently exists, it is imperative that the public be served 
by professionals who provide financial planning advice while acting in 
a fiduciary capacity, and who thoroughly disclose any financial and other 
conflicts of interest.  Now is certainly not the time to loosen standards 
the public relies on.

Gregory Merlino
President
Ameriway Financial Services, Inc.