Date:    4/6/99  1:45 PM

Subject: S7-5-99

As the Principal of a NASD Broker /Dealer, I am writing to express my strong 
opposition to the amendment(s) under consideration that would require market 
makers contributing quotes to the NQB "Pink Sheets" to be legally responsible 
for the accuracy of the financial information of the company they choose to 
quote.  This burden would end the capital formation process (at the small cap 
end of the spectrum) as we know it.  We all want strong regulation to stop fraud
and abuse, but this proposal will do nothing to reduce it.
     
Please reconsider this proposal and remember that capital formation requirements
of our economy are growing every day; do not let well intentioned but poorly 
conceived rule changes hinder the needs of the business community.
Regards,
     
Daniel Uslander
Valhalla Securities
New York, NY