From: Steven Martin [stev656@attglobal.net]
Sent: Sunday, August 04, 2002 9:25 AM
To: rule-comments@sec.gov
Subject: File No. S7-25-99

As a student who has been studying over the past 1 and 1/2 yrs to 
complete the five prep courses to sit for the CFP exam, I would 
like to say it seems unappropriate for you to let others who have 
not gone through this material and training the smae rights.

I am right now taking one of the cram courses for the exam in 
November and it is not easy.  A person without this training and 
education could certainly give a lot of bad advice and cause some 
investors and retiries some real problems.

Please do NOT pass the "Certain Broker-Dealers Deemed Not to be 
Investment Advisers" change to the 1940 Act.

Steven Martin (hoping and working to become a qualified CPA)