From: rjbieber@ft.newyorklife.com
Sent: Wednesday, January 21, 2004 8:19 AM
To: rule-comments@sec.gov
Subject: file#SR-NASD-2003-104 Proposed NASD Rule Change re: Definition
of Branch Office

Dear     Secretary: 
I am opposed to the change in definition of Branch Office for registered 
products.

The current system of regulation is more than adequate.  

Als, the NASD doesn't need another opportunity to collect money through 
registration fees.

Sincerely, 


Rod Bieber
485 Winthrop 
Saginaw, MI 48603