From: Rogerpmarino@aol.com
Sent: Thursday, June 12, 2003 10:07 PM
To: rule-comments@sec.gov
Subject: File No. S7-10-03

June 12, 2003


Mr. Jonathan G. Katz, Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549-0609

Re: File No. S7-10-03

Dear Mr. Katz:

On behalf of the beneficiaries of Local 111 Pension Fund, I am writing to 
urge the Securities and Exchange Commission to adopt rules to require 
corporations to list shareholder nominees in the corporate proxy statement.

Trillions of dollars have dissolved from the equity markets over the past 
three years. Accounting scandals at companies like Enron and WorldCom exposed 
extensive conflicts of interest and an appalling lack of corporate accountability 
to shareholders. We admire the SEC for responding with an unparalleled series 
of regulatory reforms to address the conflicts.  We feel that it is of the 
essence to institute regulations that will allow shareholders a realistic 
opportunity to select directors who will represent their interests.

Indeed, the shareholders do have the right to nominate and elect directors, 
but the present system provides no real way to hold directors accountable 
regardless of how poorly a company performs. For all intents and purposes, 
shareholders currently can do little more than give token approval for candidates 
nominated by the directors themselves.

The SEC can restore true accountability to the boardroom by establishing the 
nominal basic procedure necessary to afford shareholders a real choice in 
corporate elections. Particularly, the granting of equal access to the proxy 
statement will allow shareholders to nominate directors who we trust to represent 
our interests. Furthermore it will also encourage incumbent directors to be 
more reactive to our concerns. So, with the SEC reviewing the rules governing 
director nominations and elections, I urge you to give shareholders access to the 
proxy statement for our director nominees.

Sincerely,


Roger P. Marino, Trustee