Subject: File No. SR-FINRA-2008-005
From: Seth E Lipner
Affiliation: Professor of Law, Zicklin School of Business, Baruch College, CUNY Member, Deutsch Lipner

March 28, 2008

I write to support the FINRA proposal to conform the rules to the law by setting limits on submissions and applications to the arbitrators after the award has been rendered.

It is important, however, that the implimentation of this Rule not create grounds under which a member or associated person can extend the 30-day period for payment of an award. The FINRA should make clear that the 30-day period to pay (or face suspension) will not be extended as a result of the passage of this Rule.