Letters Released June 12-23:	Date:	Position:
Doylestown Financial Advisors	6/16/00	This CFP feels that the SEC in this release is lowering its standards regarding the financial planning profession, and that it should instead insist that everyone be pulled up to a higher level.
R.W. Tull & Assocs., Inc.	6/15/00	This investment adviser believes that the proposal harms investor protection and wears away the level playing field for financial planners who are registered investment advisers. It points out that the public may not understand the required "brokerage account" disclaimer, that broker-dealer representatives are subject to a less stringent customer "suitability" rule, that broker-dealers can use client testimonials in advertising while advisers are prohibited from doing so, and that broker-dealers who are not also registered investment advisers will avoid the costs of compliance with the Investment Advisers Act as well as those associated with revisions to Form ADV.
Fain, Paul K., CFP	5/1/00	This CFP believes that broker-dealers which provide investment advising services should not be able to avoid, as the release suggests they may, the disclosure rules applying to investment advisers.
6 letters by 7 individuals	5/8–5/31/00	These individuals submitted electronic comments on the proposal.
46 letters by 48 investment advisers	5/5–6/19/00	These advisers oppose the proposal for several reasons, including its failure to require equivalent disclosures and a level playing field.
2 letters by CFP organizations	6/19/00	These financial services companies point out several ways the proposed rule could hurt the investor and the investment adviser. For instance, requiring broker-dealers to disclose less disciplinary information could hurt the investor and allowing broker-dealers to use client testimonials in advertising when advisers are prohibited from doing so could hurt investment advisers.
7 letters by financial	5/24–6/9/00	These financial service providers submitted electronic service providers comments on the proposal.
47 letters by 46 financial planners	5/5–6/9/00	These financial planners submitted electronic comments on the proposal.