Subject: File No. SR-FINRA-2013-003
From: Scott R Shewan
Affiliation: Pape Shewan, LLP

February 6, 2013

I write to comment on the proposed revision to the rule regarding the definition of "Public" arbitrators in FINRA arbitration matters. I have for many years devoted a significant portion of my practice to the representation of investors in FINRA arbitration proceedings, and I also represent registered representatives in claims against their firms. I am a past president of the Public Investors Arbitration Bar Association. The following comments, however, are my own.

I am pleased that FINRA has seen fit to exclude mutual fund and hedge fund employees from the public pool. I strongly support this revision as being in the interest of leveling the playing field for investors. I hope that this is another step toward making the Public Arbitrator pool truly "public."

Like many of the prior commenters, I feel that the 2-year look-back period is too short. A leopard will hardly change its spots in a two-year period, or even five.

Thank you for your consideration of the foregoing.