Date: 4/6/99 2:19 PM Subject: File #S7-5-99 Dear Mr. Katz and SEC: Although we agree on your recent changes to the Bulletin Board regarding reporting companies be a pre-requesite, we strongly disagree with your proposed rule changes that the market makers be legally resposible for the accuracy of a company's financial statement. Not only does this rule go to far, it is a very obvious step in putting small broker dealers, like myself, out of business, regarding small offerings and the trading in the secondary market of these small offerings. Although I feel this e-mail will fall on deaf ears and the SEC and NASD will continue to mandate rule changes to the NASD members, I feel that we have to state our opinion. It is a shame that when a minority of traders or broker dealers ( including some large firms) engage in breaking the securities rules, that entire new rules are written and everyone is punished. We thank you for your consideration of our opinions. Sincerely, George Arvanitis CEO ONYX Trading Corporation