Subject: File No. SR-NYSE-2004-56
From: Seth E Lipner
Affiliation: Professor of Law, Zicklin School of Business, CUNY Member, Deutsch Lipner, Garden City, NY

August 28, 2006

I support the NYSE's proposed rule change, but am concerned that it does not provide sufficient protection against gamesmanship or delays in seeking an arbitrator's removal. The Rule Filing ought to provide that a party seeking to remove an arbitrator under the new Rule not be permitted to do so if the information leading to the request for removal was known by that party at an earlier time. A party knowing of grounds for removal should not be allowed to wait to bring on the challenge in order to see, e.g. how the arbitrator rules on discovery or motions.

Thank you for this opportunity to comment. A copy of my c.v. is attached