From: Gail E. Boliver |
Securities and Exchange Commission: I would encourage you to NOT accept a Motion to Dismiss as a procedure in arbitration. When the securities industry encouraged everyone to go to arbitration (for efficiency and cost reasons) they knew the process was streamlined. They were aware that courts offered more procedures and more “discovery”. What has changed? Nothing. There is no reason to change the arbitration process to favor only one side. Should a “motion to dismiss” be appropriate, the party wishing to take that position can encourage the expeditious movement of the case to hearing. One can always argue the exception. I don’t think we do away with the death penalty because we have executed an innocent person (likely we have). There is simply not a flaw in the arbitration process that demands changes to the time tested system. Thank you for your consideration. Gail E. Boliver Gail E. Boliver |