Subject: RE: File No. S7-25-99

Date:    05/07/2000 12:41 PM
     
     
I'm writing this e-mail to express my opposition to SEC Release numbers 34-42099
& IA-1845, "Certain Broker-Dealers Deemed Not To Be Investment Advisors."  In my
opinion if this change is enacted it provides an UNlevel playing field for 
independent Investment Advisors with the large brokerage houses.  The advisors 
of large brokerage firms should be required to meet the same requirements as 
independent advisors, anything less is discrimination and an injustice to the 
public.  This UNlevel field includes almost all areas of this business; from the
advisor's relationship with the client, to cost to do business, to the SEC's 
commitment to the public.  In these times of large companies trying to be all 
things to all people and providing all forms of financial services under one 
roof, the public deserves having someone in their corner who has a fiduciary 
responsibility to them.  This should include the SEC making the playing field 
level for independent financial advisors.
     
HB Orr
registered representative