From: Marc Lallier
Sent: August 21, 2007
Subject: File No. 4-538

I am a newly licensed member with the NASD. The trail commissions that I will receive in the future are an important part of my income. Taking away the commissions in my opinion is just like stealing. Members of the NASD work hard for these commissions and deserve them. I know that several retired people count on these commissions for their retirement. The government has already taken Social Security from these people and myself in the future, please don't do the same.

Sincerely Marc Lallier   (NIS financial Services #11212)