Subject: Order flow, and equal disclosure

Date:    08/08/2000 9:27 AM
     
     
Dear Sirs,
     
I am greatly encouraged to see the proposed rules concerning, "Disclosure of 
Order Routing and Execution Practices"
     
Even more important is the proposal to prevent companies from disclosing 
information to analysts prior to the public.  I have listened with equal 
shares of amusement and disgust as the analysts and brokerage houses counter 
that the existing arrangement is a good thing, because among other things they 
serve a valuable role in interpreting this information.  HOGWASH.  The fact 
is, publicly traded companies should disclose information publicly, always. 
Its absurd that the SEC has allowed this to continue for so long.
     
Almost as absurd as the fact that analysts are allowed to "rate" companies 
for whom they do investment banking.  Hopefully, new rules that require 
investment banks to completely seperate their investment banking services 
from their analytical services are in the making?
     
Sincerely,
     
Marc R. Lee