From: Daniel I. MacIntyre, Esquire
Sent: May 16, 2006
Subject: File No. SR-NASD-2003-158

Ladies and Gentlemen:

This new Arbitration Code is a crucial and far reaching rule which is going to control the conduct of Securities Arbitration for many years. Please do not grant NASD’s request for expedited treatment, but publish it for comment. Those of us who practice in this area need the opportunity to revue, evaluate and comment on this latest iteration We need the opportunity to comment on both its comments and illustrations, and on what it declines to change in response to previous comments.

Thank you for your consideration.

Daniel I. MacIntyre, Esquire
Shapiro Fussell
1360 Peachtree Street NE, Suite 1200
Atlanta, GA 30309-3222
(404) 870-2295
(404) 870-2220 (facsimile)