November 29, 2010
I write to express my support for the proposed revisions to the FINRA Code of Arbitration pertaining to eliminating the "industry arbitrator."
I am an attorney whose practice focuses on representing public investors in arbitration claims against the brokerage and financial services industry.
In order for the mandatory arbitration process to be perceived as fair by customers, it is imperative that the industry panelist be eliminated. It is harmful to both investors and the system when there is a perception of the deck being stacked.