Subject: SR-NASD-2003-158
From: Dale Ledbetter
Affiliation: Adorno & Yoss

July 14, 2005

Our firm is the largest minority -owned firm in the united states.we often represent those who need protection and help to defend themselves against powerful and better-financed organizations.abused investors are just such a group.

the current rules and the proposed re-write expose abused investors to the prospect of haveing their claims dismissed with out ever getting a fair hearing. the powerful broker/dealers force the consumer into arbitration. it is not a forum of the investor's choosing. they now want to increase the time and effort required by the abused investor to even get to the forum selected by the broker/dealer.claimants in these cases do not have the opportunity to do adequate discovery.they are forced to defend themselves against these powerful,well-finaced interests wihtout the financial resources to compete effectively. this should not be allowed.

Motions to dismiss should be discouraged in every way possible and should not be allowed to be a procedural club in the hands of the powerful to be used against the already abused investor seeking redress in the only forum available to them.

please contact the undersigned if you need additional information. thank you for your consideration.

Dale Ledbetter
Adorno & Yoss
350 E. Las Olas#1700
Fort Lauderdale,Fla. 33301
954-766-7875-Fax 954-766-7800