From: Joan Caine [JCAINE@treasury.state.ri.us]
Sent: Monday, December 01, 2003 11:55 AM
To: rule-comments@sec.gov
Subject: File No. S7-19-03

As an individual investor as well as fiduciary of public funds I support 
rule S7-19-03.  

The current process for electing directors to corporate boards has 
historically been, and remains today, in the best interest of board members 
and well compensated senior executives -  not in the best interest of 
shareholders. This lack of well represented shareholder interest is also 
reflective of the regulatory environment. Investor confidence needs to be 
restored, boards need to  fulfill their duty to shareholders and generally 
be held to much higher standards than they have been by regulators. 
Shareholders have historically had little ability to effectuate change in 
public corporate America and this reform is one small step in the right 
direction.