March 6, 2007
I believe that this rule change would be harmful to the investor. Large SRO's could start a legal action in that disttrict and effectively deny the plaintiff a chance to even respond to allegations let alone the possibality of default.
Litigation needs to be kept at a level where the average investor can participate.
I do feel however that the states should make a coordinated effort to standardize state laws to protect the investors from SROs who go shopping for an opinion. This puts the plaintiff at a real disadvantage.
Kelly S McEntire