Date:    06/21/2000  12:34 PM

Subject: Regulations for OTC trading

     
On Mar 10, 2000 I purchased 1000 shares of VIP ComLink VIPM at market (as I 
saw the current price at .31) and it was filled at 0.62 OUCH!!!!!  I didn't 
make issue of this with TD Waterhouse the agency who I sent this order 
through as I thought that this was my 
ignorance of the market of OTC stocks.
     
I am learning about investing continually and I have seen many of my OTC 
stocks not making any recovery from the significant
correction we had recently (ie TXMC) but I do not have the ability to 
determine if MM's are keeping the prices down as there are 
no controls or requirements for them to disclose their positions and 
detailed activities.
     
this and the above concern are going to make me limit my future activities 
in this exchange until better controls are put into place.
     
     
I appreciate the efforts being made to make the OTC system more realistic 
in 
representing a broad maket rather than a smaller group of market makers. 
In order
to effectively represent a smaller market structure a feel there is a need 
for the 
following;
     
-External agency which controls and regulates to ensure "rules of conduct" 
are applied to MM's
     
                                        DUTY OF CARE
                                        TRUSTWORTHINESS, HONESTY, FAIRNESS
                                        PROFESSIONALISM
                                        SECURITIES ACT CONDUCT
                                        CONFIDENTIALITY
     
                AND ESPECIALLY  MANIPULATIVE TRADING PRACTICES AS DEFINED BY SRO
RULES  
     
     
I appreciate your efforts
     
Lonnie J. Leitch