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86-8 Brittenum & Associates, Inc. Lafayette Building 525 Louisiana Little Rock, Arkansas 72201

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On January 30, 1986, the United States District Court for the Eastern District of Arkansas appointed a SIPC Trustee for the above-captioned firm. Previously on January 28, Richard Smith, Esquire had been appointed a Trustee under Chapter 7 of the Bankruptcy Act.

Members may use the "immediate close-out" procedures as provided in Section 59(i)(2) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12(h)(iii) provides that members may use the above procedures to close out transactions in municipal securities.

Questions regarding the firm should be directed to:

SIPC Trustee

James Dowden, Esquire
Arnold & Grobmyer
1 Union National Bank Bldg.
P. O. Box 70
Little Rock, Arkansas 72203
Telephone: (501) 376-1171


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