From: Richard Elliott
Sent: May 16, 2006
To: rule-comments@sec.gov
Subject: File No. SR-NASD-2003-158

Gentlemen:

It is strongly urged that the SEC reject the NASD's request for "Acclerated Approval" of Rule Filing SR-NASD-2003-158 and publish the NASD's proposal for public comment.

What is the rationale for not doing so?

Richard Elliott

Richard Elliott
Attorney at Law
402 West Main Street
Fredericksburg, Texas 78624
(830) 997-7715 - phone
(830) 997-7013 - fax
lonestarlawyer@austin.rr.com