SR-NASD-2007-047

Proposed Rule Change Relating to Amendments to Certain NASD Rules and Repeal of NASD Short Sale Rules in Light of Amendments to SEC Rule 10a-1 and Regulation SHO

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend certain NASD rules and repeal Rule 5100 and IM-5100 in light of the elimination of SEC Rule 10a-1 of the Act and the amendments to Regulation SHO under the Act.