July 10, 2013
The purpose of this letter is to provide the Securities and Exchange Commission with comments on the above referenced proposed rule change which was filed by the Financial Industry Regulatory Authority, Inc. (FINRA) on June 3, 2013.
I am a partner at Aidikoff, Uhl Bakhtiari. Our firms practice is devoted to the representation of individuals and institutions in disputes with the securities industry. Moreover, I am a former President and current Director Emeritus of the Public Investors Arbitration Bar Association (PIABA) and served as the Chairman of FINRAs National Arbitration and Mediation Committee (NAMC).
I support the proposed revisions to the FINRA Code of Arbitration Procedure (FINRA Code), which would provide for a single arbitration panel selection/composition method. This is an important change that would be beneficial for public investors, particularly those not represented by experienced counsel. In my view, it should be immediately approved by the staff of the Commission.