From: Michael Richeson [mjrfinadv@attbi.com] Sent: Monday, June 24, 2002 10:12 AM To: rule-comments@sec.gov Subject: File No. S7-25-99 To Whom It May Concern: I am a Certified Financial Planner and a member of The Financial Planning Association. I would like to publicly state my opposition to the SEC's proposed rule, "Certain Broker-Dealers Deemed Not To Be Investment Advisers." The rule essentially permits broker-dealers to offer comprehensive financial planning advice without being subject to registration under the Investment Advisers Act of 1940 or similar state laws. Consumers and the public are best served by professionals who provide financial planning advice acting in a fiduciary capacity, and who thoroughly disclose any financial and other conflicts of interests. I strongly urge you to withdraw the Proposed Rule. Michael J. Richeson