Date:    03/22/2000  9:28 AM


Subject: Proposed Regulation FD, File No. S7-31-99
 
I am writing to urge that this proposed rule be adopted.  Reading Mr. 
Kaswell's comments (filename: kaswell1.htm) has spurred me to send this 
note.  I won't try to answer all the points in his message but it is his 
first point in particular that angers me.  
     
As I read it, he is saying that the public is not smart enough and/or informed 
enough to handle the amount of "raw" information that would be available to 
investors if the proposed rule were adopted, and that investors need to have 
analysts to "screen" this data.  I respectfully submit that this is completely 
illogical and has more to do with preserving his self-interests and the people 
on whose behalf he is lobbying.  
     
The chief objection to this argument is that it's not for Mr. Kaswell or any 
one else in the business of securities analysis to decide whether the public 
is capable of handling equal access to information about public securities. 
It's a patent conflict of interest for him to say such a thing.  Let the 
public decide whether or not they are capable of evaluating the information.
 How can we ever become informed enough to make intelligent decisions if we
don't have access to all information? He claims to be concerned about people 
making informed decisions, and yet objects to giving us equal access to 
information.  That is illogical and even Orwellian.
     
If it were true that this proposed rule would make it more difficult for the 
indiviual investor to sort out information, then they would have MORE need 
of securities analysts, thus benefitting his clients.  Clearly this is not 
what Mr. Kaswell is concerned about.  He is lobbying to preserve an inequity 
that benefits him and the people he represents. 
     
Please adopt this proposed rule.  Than you very much for your time and your 
efforts on behalf of the American public.
     
Andrew Bertoni