From: Tim Canning
Sent: May 15, 2006
Subject: File No. SR-NASD-2003-158

Please do not grant accelerated approval to the NASD’s most recent amendment to its rule filing, SR-NASD-2003-158. Instead, please ensure that there is an adequate period for comment prior to any approval.

I am an attorney, primarily representing investors in securities arbitration (as well as individual brokers in employment disputes), most of which are administered by the NASD. The NASD Code rewrite (as reflected in its most recent amendment) will have a substantial impact on public customers (as well as other participants in securities arbitration), and should not be approved without providing a public comment period.

Thank you,

Tim Canning

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