April 16, 2007
RE: File No. SR-NASD-2007-023; Proposed Rule Change to Amend the By-Laws of NASD to Implement Governance and Related Changes to Accommodate the Consolidation of the Member Firm Regulatory Functions of NASD and NYSE Regulation, Inc.
Dear Ms. Morris,
Thank you for the opportunity to comment on the above referenced rule filing concerning consolidation of the NASD and NYSE Regulation into a new, single self-regulatory organization.
As the CEO of Cutter & Company, a small broker-dealer in Missouri, I fully support the consolidation and future efficiencies this change will bring. One regulatory body with one set of rules will help streamline our current regulatory system, which, I feel, will ultimately provide a significant benefit to member firms and the investing public. I also feel the new governance structure proposed for the newly formed organization will provide an effective, diverse representation of all size members of the securities industry.
Once again, I strongly support the planned consolidation and look forward to a more effective and efficient self-regulator as a result of the changes.
Cutter & Company, Inc.
Member NASD, MSRB, SIPC