Michael J. Langdon
30 Harbor Crest Court #114
Boston, MA 02125

February 3, 2004

Jonathan G. Katz, Secretary
Securities and Exchange Commission
450 Fifth Street NW
Washington, DC 2054900609

Re: S7-27-03

Dear Mr. Katz:

As a concerned mutual fund investor I feel that it important to present an opinion on proposed legislation that is certain to impact myself and others like me. It is important that the innocent don't bear the brunt of the punishment as is often the case in these situations. I have reviewed S7-27-03 on the SEC website and it is may fear that that is exactly what is being proposed in this case. The amendment of rules governing pricing of mutual fund shares would require those investing through mutual fund "supermarkets" to enter trades prior to 4pm eastern to receive same day pricing. As an individual investor who uses a mutual fund supermarket I object to being punished for activities that I never took part in. If I am not mistaken there is already a 4 pm close in effect for mutual fund purchases. The fact that existing regulations have not been enforced should not be taken as a license to create a more rigid set of rules. According to my mutual fund supermarket (Fidelity) the technology does exist to time stamp trades as they are sent to mutual fund families. This would mean that an investor such as me would still be allowed to enter trades until 4pm to get same day execution. It was the SEC that should have been enforcing the 4pm close the entire time that abuses were hurting individual investors so the SEC owes it to those same investors to consider methods of enforcing rules that do no further damage.


Michael J. Langdon