Subject: File No. SR-FINRA-2012-031
From: David D. McNally
Affiliation: McNally Financial Services Corporation

July 20, 2012

I think the SEC should investigate FINRA and its fiscal policies. There is no reason for this SRO to operate at a 84 million dollar deficit. I manage a small firm and will eventually feel the impact of FINRA's irresponsible financial practices.

David D. McNally, President
McNally Financial Services Corporation
P.O. Box 701928
San Antonio, TX 78270-1928