Date:    08/17/2000  3:02 PM
Subject: Regulation FD
Dear SEC,
     
Arthur Levitt, Jr. deserves credit for the new Regulation FD rule.  I 
hope that you will consider every protest from the privileged elite as 
confirmation of the necessity of Regulation FD.  Analysts and portfolio 
managers will certainly miss obtaining insider information to make 
investment decisions to the detriment of the small investor.  I 
personally found the WSJ article of August 16, 2000 interesting.   Poor 
Tom Roth of Safeco was now unable to obtain non-public information on 
Micros.  As I small investor in Micros I have not been given access to 
information on individual customer accounts.  It is rough when there is 
a level playing field and all investors have to make investment 
decisions based on the same public information.
     
Before the widespread adoption of the Internet full and equal disclosure 
to all investors may not have been possible.  However, the surge in 
interest in using CCBN.com and other Internet broadcasting services is a 
strong indication that the flow of investment information will not stop 
but will increasing be made available to all investors in a timelier 
manner.
     
The privileged insiders will protest their lack of special access to 
companies.  The louder they complain the more obvious that Regulation FD 
is a step forward in improving the fairness and integrity of US 
securities markets.
     
Best Regards,
     
Stephen Jones