Subject: File No. S7-06-04
From: Shannon S Audley, Ms.

March 11, 2004

To Whom This May Concern:

I believe this is very good idea. Hopefully by putting this requirement into place, it will prevent novice investors from being taken advantage of. ALL information should be presented including how the investors funds could benefit the advisor as well as the firm.

Thank you for addressing this matter. Hopefully it will help to keep everyone honest which they certainly are not now.

Shannon S. Audley