April 12, 2007
I strongly oppose this merger as my rights and the rights of the majority of NASD members will be significantly diluted and given to the minority members. The explanation of the power shift and new board members is sugar coated and hopefully you, the SEC, will see through it. Moreover the heart and soul of small business and capital to help small business will be greatly affected, as this move will hurt the majority of the NASD members, which are small firms. This move solidly puts control of the NASD in the fewest number of firms possible. This is a last minute attempt by the old board of the NASD to stop the majority of it membership from getting its rightful control. The recent elections have shown that the membership wants a change of control. So with this move, if approved, the big firms, a minority, have stopped that movement.
The day that this is approved will be marked, in the future, as the single biggest negative event for the securities industry.