Subject: File No. SR-FINRA-2010-053
From: Cary S. Lapidus
Affiliation: Law Offices of Cary S. Lapidus

December 3, 2010

I am writing to support the proposal to eliminate the mandatory industry arbitrator in FINRA arbitration proceedings involving public customers.

I have represented clients in FINRA arbitrations for nearly 25 years. I am a former member of the NASD National Arbitration and Mediation Committee (NAMC) and I have served as an arbitrator in NASD cases.

The elimination of the mandatory industry arbitrator will contribute significantly to both the fairness of the FINRA arbitration process and the perception of fairness in the minds of the public who have their cases heard by FINRA arbitrators.

The Commission should approve the proposed revisions to the FINRA Code of Arbitration Procedure.