Date: 03/24/2000 8:46 AM Subject: File No. S7-31-99 I am in favor of the proposed new rules concerning selective disclosure and insider trading . In the past few days, one of the largest NYSE member firms reported earning profits in the billions from trading profits for ONE quarter. This is a profit area for probably most NYSE member firms. These are the same firms that routinely conduct contacts with publicly held companies receiving material non-public information which can, and often does, cause great volatility in stock prices. What could be a more blantent example of potential insider trading than analysts from major brokerage firms being allowed to routinely receive material information, before such information is made public ? Consider that the SEC routinely moniters daily trading patterns to police potential insider trading by INDIVIDUALS, but until new rules are adopted to control the issuers of material information, apparently large FIRMS are free to trade huge quantities of stocks to their advantage, without fear of insider trading laws. These new proposed rules are probably the most important tools the SEC could have to protect the public, since the adoption of the Investment Acts of 1933 and 1934. Without these new rules, the average investor is being taking advantage of in a manner which surpasses the effectiveness of the trading pools which opening operated prior to the 1933 and 1934 Acts. Frances Vick LaFayette,ga