Subject: File No. S7-25-99
From: Thomas E Couch, CFP

August 25, 2004

I support the FPA lawsuit requesting that the SEC withdraw the proposed rule exempting broker-dealers from the Investment Advisors Act of 1940.

This rule would do nothing to help the investing public, but would harm them. The way things stand right now, most individual investors are not able to make a distinction between a broker/salesperson and an Investment Advisor Representative.

Bottom line: anyone giving investment advice, whether incidental or not, should be subject to the Investment Advisors Act of 1940. As a concerned Certified Finanical Planner, I urge the SEC to withdraw this proposed rule.