Subject: File No. S7-29-99

Date:    01/17/2000 3:26 PM
     
     
To Whom This May Concern-
     
I am not sure what channels to go through and what proposal my complaint 
would be filed under so please bear with me.  I assumed this file number 
most closely fit my grievance.  I am currently a research analyst at Zacks 
Investment Research.  I was recently notified from my broker at Smith 
Barney that I was not allowed to invest in IPO's due to the fact that my 
company was under NASD regulations.  Zacks Investment Research is broken up 
into two seperate entities, one being Zacks.com (NASD regulated) and the 
other Zacks Investment Management (non-NASD regulated).  I work under Zacks 
Investment Management and my responsibilites include the handling of 
secondary data to compile a concensus estimate very similar to our 
competitor First Call.  Any of the information I deal with is nowhere near 
inside information and I feel I am at no greater advantage then an 
individual investor in the market.  I am seeking the clearing off my name 
to be able to participate in any IPO my broker my happen to offer me.  I 
hope I have clearly explained myself and if there are any further questions 
you may have to please e-mail me or contact at the information below. 
 Thank you for your time.
     
Victor J. Jendras
Research Analyst        
Zacks Investment Research, Inc.
155 N. Wacker Dr.  Suite 300
Chicago, IL 60606
(800) 767-3771 Ext.331
victor@zacks.com