April 29, 2009
The purpose of this letter is to provide the Securities and Exchange Commission with comments on the above referenced proposed rule change which was filed by the Financial Industry Regulatory Authority, Inc. (FINRA) on March 11, 2009.
I am an attorney whose practice is exclusively devoted to the representation of public investors in their disputes with the securities industry.
Moreover, I am a current member of FINRAs National Arbitration and Mediation Committee and a past President and a current member of the Board of Directors of the Public Investors Arbitration Bar Association.
I support the proposed rule changes based on my belief that an automatic tolling of applicable statutes of limitation, if any, while an arbitration is pending, will protect the public interest and preserve fairness in the arbitration process.