Subject: File No. SR-FINRA-2010-053
From: Austin Smith

December 3, 2010

The idea of having industry representation on the arbitration panel when a complaint is being made against an industry member is like asking the fox to judge which chicken is the plumpest before plucking and eating it. Arbitration is supposed to be as impartial as possible. Only by selecting panel members with NO ties to either party can arbitration proceed fairly. I support the effort to remove industry representatives from arbitration panels where the case in question involves the industry they are associated with.

Thank you,

Austin Smith