Subject: File No. SR-FINRA-2009-050
From: Theodore M. Davis, Esq.

September 11, 2009

I am an attorney practicing in New York and Connecticut who has represented investors in securities arbitrations since 2003. I applaud FINRA's efforts to retain and make available certain information about former associated persons.

However, this proposal does not go far enough.

There should be no temporal limitation to this important recordkeeping. Stockbrokers are entrusted with the duty to prudently care for the life savings of investors. And, investors are often advised to "buy and hold" for periods far in excess of 2 years. The Eligibitily Rule relates to a 6 year period, and the Discovery Guide does not limit recordkeeping for a mere 2 year time span. I cannot see any reasonable basis for FINRA to hold open the window for views of prior broker disclosures for a period of only 2 years. Investors should be able to have access to all broker disclosures, without limitation.

Notably, FINRA has recently engaged in an expensive media campaign to tout its dedication to investor protection. We see the advertisements on television nationwide and at all hours. Such advertisements are mere hollow promises, perhaps even deliberate misrepresentations, if FINRA seeks to only retain and make public broker disclosures for the proposed 2 year period.

I urge this proposed rule change to be approved only if the "2 year limit" is rescinded.