September 20, 2005
-Dear Mr. Katz:
I practice securities arbitration law in Iowa and have for the past twenty years. One of the major issues I face is to convince my potential client that they have an impartial forum in which to present their case. As you know, the filing fees are substantial and the possibility of an assessment of costs make the decision to go forward sometimes difficult to risk adverse clients.
The inclusion of an industry arbitrator is just another obstacle in a process heavily weighted in favor of the industry. I believe industry arbitrators should be eliminated for this reason.
Thank you for your consideration.
John D. Hudson