Subject: File No. S7-06-04
From: Steve Toll

March 15, 2004

I like the idea of requiring brokers to disclose their incentives and fees fully.

Much of the information could be posted on a firms web site along with existing fee information about their funds. While not tailored to a specific purchase, this would provide most of the information needed when researching investment alternatives. Examples could also be provided, such as the ones shown on your web site. With the webs ease of access and availability at the time research is being done, this would be preferable to me to waiting for a mailing after the fact.

If a mailed form is necessary, the form and data should be kept as simple as possible otherwise, investors wont read it. Perhaps there could be a summary highlighting the most critical information, or key information could be highlighted in the document.