From: Peirce Ward
Sent: July 13, 2006
Subject: File No. SR-NASD-2004-183

To Whom it May Concern;
Adding another layer of rules will not do the job. Just enforce the ones you already have on the books. You have added such a burden to the process it is almost impossible to explain anything the client in English.

Peirce Ward
227 W. Trade Street, Suite 1910
Charlotte, NC 28202

(704) 714-3165
(704) 358-4546 FAX