From: Scott R. Hewitt [srhewitt@slm.firstcommand.com] Sent: Wednesday, June 26, 2002 4:37 PM To: rule-comments@sec.gov Subject: File No. S7-25-99 I write this message as a plea to the Securities and Exchange Commission to completely withdraw its proposed rule, "Certain Broker-Dealers Deemed Not To Be Investment Advisers". To allow this proposed rule to become effective, the spirit and intent of the Investment Advisers Act of 1940 will be essentially "kicked to the curb". The 1940 Act serves, in large part, to require a measure of standards and ethics for adherence by those who present themselves as Investment Advisors. This proposed rule would allow unlicensed broker dealers (under the Act) to operate as someone who is licensed, but is not compelled by the Act to adhere to its standards. To allow this is to set back the Financial Advisor profession. Please withdraw this rule. Scott R. Hewitt Investment Advisor Representative