From: Kyle M. Kulzer, Esq.
As an attorney who represents public customers in securities arbitration, I am writing to express my strong opposition to to the NASD’s proposal for dispositive motions in arbitration. Without the use of depositions (and overall limited discovery) a Claimants only chance to develop his or her case is at an arbitration hearing. In fact, the cornerstone of arbitration is the belief that a party will have his or her day in “court” because they have given up many of the rights they would otherwise be entitled to in a state or federal court action. By allow Respondents to file motions to dismiss (as they are doing now in virtually every case) you are undermining the arbitration system and skewing the playing field in favor of the Respondents.
Kyle M. Kulzer, Esq.