June 5, 1986

A mayoral panel has submitted its recommendations on commercial rents to Mayor Koch, with the majority coming out against imposing rent controls, but with a small minority sharply disagreeing and favoring new, strong regulations to limit rent increases. All but 3 of the 15 panel members, named by Mr. Koch and the City Council 13 months ago, concluded in a report to be released today that rent controls for small retail businesses were unnecessary. They acknowledged that there was a problem of rising rents, but voiced confidence in the free market and proposed new procedures for negotiating commercial rents whenever either the tenant or landlord seeks help. Under that procedure, tenants would first negotiate directly with landlords. If that failed, either party could then call for nonbinding mediation, probably to be conducted by the American Arbitration Assocation. As a last step, if mediation failed, the tenant could request a one-year lease extension at a rent increase of up to 15 percent.

Some knowledgeable United States officials say they see an important opportunity in the Soviet offer to begin reductions in strategic nuclear weapons if the United States pledges to observe the antiballistic missile treaty of 1972 for 15 to 20 more years. Until last week, the Soviet Union insisted on a ban on all research under the American space-based missile defense program as a condition for reductions in offensive weapons. The Soviet Union's new offer, the officials say, may indicate that the Russians are more interested in preserving the ABM treaty then in preventing all antimissile research. This could open the door to some research under an arms accord.

The purported insider-trading ring for which five young Wall Street professionals were indicted last week came to light in March, when Arthur Ainsberg, the compliance officer at Marcus Schloss & Company, told Federal authorities that Andrew Solomon, an arbitrage analyst at the firm, was using inside information. According to Mr. Ainsberg's lawyers, Mr. Ainsberg first became aware, in early March, that Mr. Solomon was discussing inside information about proposed takeovers with Michael N. David, formerly a lawyer at Paul, Weiss, Rifkind, Wharton & Garrison. ''Arthur was very much interested in cutting out the flow of information, and he didn't know what to do,'' said Alvin Hellerstein, one of Mr. Ainsberg's lawyers. 'A Higher Authority' ''Normally, the compliance officer would take information about any wrongdoing to a higher authority at the firm,'' Mr. Hellerstein continued. ''But when he overheard Andy Solomon talking on the phone, in the presence of principals of the firm, it seemed to him from the way Andy dealt with the principals in the firm that it was not the first time they'd gotten this kind of information.''

The chief of the Philippines armed forces said today that Communist rebels had taken advantage of the ''liberal atmosphere'' of the new Government of President Corazon C. Aquino to resume their armed activities and extend their local influence. But the officer, Gen. Fidel V. Ramos, said the average number of daily incidents involving insurgents, and the average number of deaths each day, had dropped slightly from last year's level. At the same time, he said, the military is struggling to dig itself out of a ''big black hole'' of inefficiency and corruption as it begins to effect long-awaited changes that would help it combat the insurgents.

AS the days grow sultry, even with air-conditioning, rooms that looked warm and cozy in winter can seem oppressive. Thick rugs, dark colors and plush upholstery feel hot and stuffy. Summer sleight of hand is needed to transform a winter room into one that is casual, bright and airy. The fastest and least expensive way to change a decor from winter to summer is to do the job yourself, using selective shopping and inspired improvisation on the furniture, fireplace, floors and lighting.