August 27, 2004
I urge you to withdraw,not amend,the proposed rule for two reasons:
1.The proposed rule allows two standards of conduct. One for Registered Investment Advisors and a different,less stringent one,for stockbrokers and their firms.
2.The proposed rule is anti-consumer.By permitting non-disclosure of conflicts of interest,it allows stockbrokers and their firms to misrepresent their primary sales role as one of a "fiduciary advisor" by receiving a fee for advice.
Russell and Loretta Williamson
624 Amber Jack Court
Barefoot Bay,Florida 32976