Subject: File No. S7-06-04
From: Ruth-Ellen Post, J.D.

March 16, 2004

Generally, I applaud these proposed rule changes and welcome the proposed forms. This measure provides information of which many small investors have long been unaware and need to understand.

However, I want to suggest that the forms may be confusing to many ordinary, individual investors. Section D of the forms is particularly difficult to understand and might be expressed in a simpler, clearer way.

Thank you for the opportunity to comment.