Subject: File No. SR-FINRA-2008-005
From: Steve Buchwalter, Esq.
Affiliation: Attorney

May 15, 2008

I am an attorney practicing in Los Angeles. While I primarily represent investors, I have represented brokers, broker-dealers and institutions in NASD/FINRA/NYSE arbitrations for over a decade.

I am against the proposed rule change.

When the arbitrators issue their decision, that should be the end of it. It is a rarity when both sides of a dispute are satisfied with an arbitration award. The unsatisfied party(s) will always file a motion under the proposed rule.

The arbitrators' award should be the end of the dispute, not the beginning of round two.

Steve Buchwalter