Subject: File No. S7-25-99
From: Kimberly A. Hankins
Affiliation: Financial Planning Association

August 30, 2004

Why does the SEC continue to believe that the larger Broker/Dealers are conducting business that is more favorable to the client? History has proven that this is not the case. In this day of Hyper-Regulation, why would the SEC give broker-dealers such a blanket vehicle to mislead and take advantage of consumers. Either the SEC is here to protect investors or it is here to protect big business. This proposed rule does nothing to protect the investor and everything to allow big business to mislead the public.