From: Paula Hogan [hogan@hoganfinancial.com] Sent: Tuesday, July 16, 2002 11:26 AM To: SEC Rule-Comment Subject: File No. S7-25-99 Dear SEC Staff: I wish to add my voice to those asking for the withdrawal of the above referenced rule "Certain Broker-Dealers Deemed Not To Be Investment Advisers" In addition to the reasons outlined by the Financial Planning Association and the Consumer Federation of America, I am concerned about the confusion in the press from advertisements from brokers purporting to give advice when in their business advice is incidental to their business and when they are not held to the same disclosure and fiduciary standards applicable to true investment advisors. The public has a right to know the differences between the various parties in our industry so that they can make informed choices about with whom to work. I believe it is also in the public interest to maintain industry conditions that will increase public trust and confidence in the financial services industry, especially in the current economic environment of corporate accounting scandals. Sincerely yours, Paula H. Hogan, CFP, CFA Paula H. Hogan, CFP, CFA Hogan Financial Management 250 W. Coventry Court, Suite 210 Milwaukee, WI 53217 Phone: (414)352-9111 Fax: (414)352-9166 Email: hogan@hoganfinancial.com Web: http//:www.hoganfinancial.com