Subject: File No. S7-11-04
From: Richard Gibbs

March 19, 2004

This proposal is the most assinine thing I have ever heard. Are you people out to destroy the mutual fund industry and wipe out the small investor? It sure seems like it. Stayout of the mutal fund companies BUSINESS If a mutal fund company chooses to impose a fee thats it their perogative but your mandating that they do, there by eliminating consumers choice, smacks of a pseudo-free SOVIET RUSSIA police state. In this country we are supposed to have FREE MARKETS You people make me sick.