February 10, 2006
FULL DISCLOSURE is what any professionsl wants and the client needs to make an informed decision.
The SEC's proposed Point-of-Sale Full Disclosure Rules,(File Number S7-06-04), is NOT the answer. It is semilar to all the pages required in a current prospectus with its admonition to "read carefully before investing".
As proposed, S7-06-04, will add cost and confusion to the sales and decision process and therefore hurt instead of help the investor.