November 30, 2010
I support the change in this rule to allow for an entirely public panel of arbitrators. The requirement that at least one of the panelists be an industry representative has compromised the fairness of the process. The use of arbitration is already a requirement imposed on investors by the terms of their agreements with their advisors. A totally unbiased panel is not a lot to ask.
If we have to play on their home court with their ball, at least allow us to have impartial refs.