August 24, 2010
After reading Seth Lipner's comments in Forbes magazine about these guideline changes, I must agree with his assessment that these invade investors' privacy. "Financial colonoscopy" is an apt term for what you propose.
You have no right to unlimited access to my financial history. Burying a claimant in document requests does not serve anyone's interest in the truth, but it does make it easier to discourage anyone from going before an arbitrator in the first place. One-sided justice is no justice at all. This sort of nonsense is why more and more people will invest for themselves.