Date:    12/17/1999  11:56 AM

Subject: Proposed Regulation FD

     Dear Sirs
     
     I've just finished reading the article in the Motley Fool WebPage 
     regarding Proposed Regulation FD and the promise of Full Disclosure on 
     Wall Street. I am voting for More Open disclosure, however with some 
     caveats.
     
     As a hard core moderate and somewhat sensible person it would seem 
     good sense to maintain some level of Open disclosure abilities as well 
     as maintain a level of managment on the effects of full disclosure. 
     
     We all know that competition is good for the consumer in that the 
     costs of products and services declines while the level of innovation 
     and perhaps value increases. 
     
     Creating More Open disclosure capabilities would serve to provide a 
     wider distribution of the most current information and thus reduce the 
     virtual monopoly like hold Wall Street holds over the world markets.
     
     However, we all know that you don't hand a loaded gun to a child and 
     providing potentially destructive information to individuals that are 
     not trained or expert in the handling of that information is reckless 
     at best.
     
     Having the SEC completely eliminate the selective disclosure 
     restraints without some form of monitoring would not be in the best 
     interest of the economy, the individual investor OR Wall Street and 
     would set the stage for investor panic and emotional upheaval. 
     
     I believe the best course of action is to allow Open Disclosure of 
     information to ALL investors, HOWEVER NO Investor (or broker) can act 
     on that information without some type of controls in place. Much the 
     same as we now control Program Trading etc. 
     
     This type of automated control could act as a valve that could be 
     applied to stem the occasional financial panic, while providing a 
     mechanism to "loosen" the reigns if needed. 
     
     We should seek NOT to control the Information people have access to 
     but only their ability to do significant harm to themselves and others 
     by creating panic.   
     
     Sincerely 
     
     Mike Palmisciano
     Financial Accounts Manager
     Information Builders, Inc. NYC