The Proposed Rule Change Amends the NASD Code of Mediation Procedure. The Proposal is Concerned Solely with the Administration of NASD in That it Renumbers the Rules, Updates Cross References, and Reinserts Rule Language That had Been Reserved

NASD, through its wholly owned subsidiary, NASD Dispute Resolution, Inc. ("NASD Dispute Resolution"), is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend the NASD Code of Mediation Procedure ("Mediation Code") to re-number the rules, update cross references, and re-insert rule language that had been reserved.