Subject: From Harvey Rosenwasser

Date:    03/08/2000 6:26 PM
     
     
Dear Mr. Katz,
     
The idea of safeguarding personal information in the financial sector is very 
important and a good idea.
     
Unfortunately the proposed rule will also would allow companies to nullify a 
consumer's request to bar their personal information from being distributed 
to a nonaffiliated third party if that information is used for 
joint-marketing purposes. To become exempt from the opt-out requirement, 
companies would simply have to disclose to the consumer their intent to share 
the personal information before it is distributed and ensure that the third 
party maintains the confidentiality of the information
     
Please use your good offices to see that this loop-hole is closed so the 
public will have protection of their private financial matters.  With the 
fine line between brokerage and banking, this loophole will seriously 
comprimise privacy in the investment area.
     
Thank you for your time in considering my suggestion.
     
Harvey M. Rosenwasser