From: W. Scott Greco
I am a private practice attorney for Greco & Greco, P.C. in McLean, Virginia and I dedicate the large majority of my practice to representing individuals against Broker-Dealers and Registered Representatives in NASD arbitration. I am writing to comment on proposed Rule Change SR-NASD-2007-021 to the NASD’s definition of public arbitrators which would enact a $50,000 limit to income to the arbitrator’s firm from Broker-Dealers. I fully support the proposal, and would fully support any additional proposals which would remove arbitrators from the “public” pool with ties to the industry.
With a mandatory industry arbitrator (which should be abolished), it is crucial to a fair arbitration process that the “public” arbitrators be truly public. I therefore support the proposed Rule change and all additional changes that would ensure the removal of any real or perceived bias on behalf of the industry from the “public” arbitrator pool.
W. Scott Greco