Alfred Letzler, 72, a retired associate director of the Office of Opinion and Review at the Securities and Exchange Commission, died of cancer June 30 at his home in Arlington.

Mr. Letzler was born in Romania and moved to New York City as a child. He earned a bachelor's degree from Cornell University. In 1933, he graduated from Columbia University law school.

Mr. Letzler moved to Washington in 1934 and worked at the Farm Credit Administration until World War II. During the war he was the associate chief counsel at the Office of Price Stablization.

After the war, Mr. Letzler joined the SEC as associate director of the Office of Opinion and Review, where he acted as the presiding judge at public hearings in 1971 that were requested by the New York Stock Exchange. He retired in 1976.

Mr. Letzler was an author of many law review articles on price regulations and farm credit.

In 1961 he taught at George Washington University law school as an adjunct professor.

Mr. Letzler was active in the Arlington Forest Citizens Association and the Arlington Forest Club and was a member of the Arlington Committee of 100.

Survivors include his wife, Alice, of Arlington; two children, Kenneth, of McLean, and Susan L. Cole of New Haven, Conn.; two brothers, Edward, of North Woodmere, N.Y., and Harry, of Manhasset, N.Y.; a sister, Anne Letzler of New York City, and two grandchildren.