Subject: S7-31-99
 
Date:    03/14/2000 11:04 PM
     
     
I am an experienced individual investor who strongly applauds the 
proposed rule prohibiting selective disclosure of material information. 
I read about the proposed rule in an article in the March 14 edition of 
TheStreet.com.  I strongly suport the idea of levelling the playing 
field for individual investors by ensuring that material information is 
provided to all investors at the same time.
     
I also wanted to comment on the objections to the proposed rule by the 
Securities Industries Association that were noted in the article in 
TheStreet.com.    The SIA apparently thinks individual investors are 
incapable of interpreting material information without first being 
provided with the "spin" of analysts who receive the information first. 
I find these objections to be disingenous and insulting.  First, if the 
information is material and goes to analysts first, you can bet their 
clients will be acting upon the information before it becomes public. 
Second, you can also bet that when the analysts put their spin on the 
information, that spin will in the interests of their clients, which may 
also be against the interests of the investing public in general.
Third, many individual investors do not need analysts' "interpretations" 
of information to begin with.  Those that do would be better served by 
limiting their investments to mutual funds.
     
In short, I think it is high time to provide a level playing field for 
all, and hope the SEC does not bow to the special interests of the 
securities industry.
     
Lawrence K. Brubaker, Individual Investor