Subject: File No. S7-25-99
From: Robert A Catton, MBA, CFPr
Affiliation: Certified Financial PlannerTm

August 25, 2004

I believe it is time to cancel this rule proposal.

The proposed rule does nothing to enhance the safety and security of the public, but appears to merely provide an avenue for banks and certain brokerage firms to avoid the regulatory rules that the rest of us in the profession must abide by.

In an era of corporate malfeasance, mutual fund irregularities, and a myriad of scams attacking assets held by the public, it is more appropriate to be enforcing the existing rules and regulations, not softening or eliminating their effectiveness.

Sincerely yours,

Robert A. Catton, MBA
Certified Financial PlannerTm

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