Subject: File No. S7-25-99
From: Roz Roseman

September 13, 2004

Please repeal the new rule that allows stockbrokers to charge a fee, call themselves financial planners, and - on top of it all - NOT disclose the incentives they receive for products they sell.

The advice they give is indeed "incidental" to stock sales - it is also "incidental" to THEIR interests - not to those of the consumer/customer!

Plainly, it is unreasonable, misleading and fraudulent for stockbrokers to call themselves financial planners. The abuse of the title they assume is bad enough. However, the real source of their abuse of consumers is that they do not have to reveal they financial incentives they receive for products sold. AT MINIMUM, they should be required to REVEAL ALL INCENTIVE FEES PROMINENTLY.

There is a real distinction between STOCKBROKER advice incidental to stock sales & information provided by trained financial planners.

PLEASE repeal this rule. Require disclosure and transparency. If consumers choose to use advice of stockbroker - properly disclosed - fine. It's the deceit that has got to go.

Thank you,

Roz Roseman