February 7, 2013
I am a lawyer in private practice. I sometimes represent customers in disputes with member firms. The proposal improves the existing arbitrator selection process somewhat because it tends to remove some of the substantial inherent bias in the rules and arbitrator selection process in favor of the industry. But the proposal doesn't go far enough in removing the industry bias. The rules and arbitrator selection process still need substantial revision to make them fair for customers even if the proposal is adopted.