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To: Jeffrey S. Mitchell who wrote (24018)	9/22/1999 11:30:00 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 26163

Re: FOLLOW MY TEN COMMANDMENTS, SAYS PETER BROWN by Brent Mudry In a strong hint that the wave of United States prosecutions targeting OTC Bulletin Board dealings of Vancouver brokerage firms is far from cresting, the head of the top Vancouver Stock Exchange member firm recently sent a stern and terse in-house memo to all his brokers. In a two-page Sept. 2 memo, Peter Brown of Canaccord Capital warns that more bad news may be coming from regulators south of the border. "In the past week we have fired one investment adviser and suspended another for ignoring our rules in respect to dealing on the US. L Board market. ... Therefore, your executive committee thought it would be useful to reiterate our concerns over trading in a market which is fraught with problems," states Mr. Brown. Vancouver's best known broker notes that United States Securities and Exchange Commission is making a special study of Vancouver firms dealing in the barely-regulated bulletin board market, and the SEC's probes have proved fruitful. "The Board of Governors of the VSE has been informed by their president that there will be several more charges against Canadian registrants over the next several months as a result of L board activity," states Mr. Brown. The memo also confirms the SEC study is particularly broad. "The British Columbia Securities Commission, in co-operation with the SEC, has gathered all the L board trading records of several firms to examine all the activity being undertaken by B.C. registrants in this market," says Mr. Brown. The Canaccord chief also reveals that B.C. brokerages are receiving "multiple requests for trading information on L board stocks" from the SEC. etc. Message 11334253 - Jeff