WASHINGTON (February 1, 2011) – The following is a statement from NASAA President and North Carolina Deputy Securities Administrator David Massey on the Securities and Exchange Commission’s approval of FINRA’s proposal to allow investors filing arbitration claims to have the option of choosing an all-public panel of arbitrators.
“State securities regulators have long advocated providing investors with greater choice in FINRA arbitrations. Providing investors with the option to have an all-public panel of arbitrators is a positive development toward increasing the fairness of the securities arbitration process. Another step in enhancing investor confidence would be to allow investors to choose between arbitration and litigation in an independent judicial forum.”
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