November 25, 2010
The current system of having an industry arbitrator on each panel in excess of $100,000 must be abolished if FINRA wants to provide investors with an even playing field. It is my understanding awards increased 22% in favor of investors in the pilot program. It is obvious what this says. Regardless of any changes in arbitration awards this proposed rule must go into effect if FINRA wants to have give the public at large the perception of a fair forum to litigate matters.
Sincerely,
David Harrison
Law Offices of David Harrison