Subject: File No. SR-NASD-2007-021
From: robert w goehring, esquire

July 25, 2007

I am writting to oppose the $50,000 or 10% from a single source limit for public arbitrators. The limit shows an extensive connection with the securities industry. With the arbitration process already requiring one industry representative, the requirement should be a zero connection to the industry. Having been involved in securities arbitrations for the last 15 years, the appearance of fairness cannot be overemphasized. All arbitrators should be public and have no connection to the industry.