From: Ronald M. Amato
Dear Sir or Madam:
On May 4, 2006 the NASD stated on its website that it had filed Amendment No. 5 to the code rewrite, Filing 2003-158. This filing includes substantial changes from the last amendment to the rewrite which will materially affect investors. I write to object to the NASD's request for Accelerated Approval of Rule Filing SR-NASD-2003-158.
Investors who have been compelled to arbitrate their disputes through the NASD arbitration system have the right to expect a fair, unbiased forum in which to seek justice. Important issues raised in connection with the proposed code rewrite -- such as whether certain motions to dismiss are deemed sufficiently "extraordinary" to be permitted to be heard-- deserve more than an expedited review. The voice of all those interested should be heard, by way of public comment. I therefore ask that the SEC commence a new comment period to allow public input on this important new filing.
Thank you for your consideration.
Ronald M. Amato