Subject: File No. S7-38-04

January 6, 2005

Im a small invester and it would be great to have access to more info at the onset of any new offering.Im not a corp. but some of the rules that are in place seem to be against the constitution, or at the least against the trading law, you send people to jail for insider trading but the small trader isnt allowed to get all the facts that the well healed trader gets, that in it self seems like INSIDER TRADING. If a company can go to wall street and give them info on their company then at that point that trader should be allowed to inform me or anybody they want to inform under FREE SPEECH.Please update the system. THANK YOU