Subject: File No. S7-25-99
From: Mark S. von Wehrden

July 23, 2004

Dear SEC,

The SEC should aggressively promote full disclosure for broker-dealers. There have been too many scandals in the investment brokerage industry. Let's stop these problems now and reject any modification to the Investment Advisers Act of 1940.

Mark S. von Wehrden
mvonwehrden@krtinfo.com