From: Brad Holt [BHolt@oklaosf.state.ok.us]
Sent: Thursday, June 07, 2001 6:47 PM
To: 'rule-comments@sec.gov'
Subject: File No. S7-25-99

I oppose adoption of this proposed rule because it exempts financial 
advisers from the reasonable provisions of the Advisers Act of 1940.  It 
defies logic and language to permit broker-dealers to call their 
representatives "financial advisers" in their advertisements, and to stress 
advice and other financial services in practice -- and then to turn around 
and claim the advisers shouldn't be regulated as advisers.  Anyone called a 
"financial adviser" should not be exempted from the Advisers Act of 1940.

Brad Holt, An Investor, Client and Customer
Oklahoma City