Sarah Johnson, CFO.com | US
January 15, 2009
It is unfortunate that the Senators did not ask Ms. Schapiro as to her position on Senator Feingold's proposed Fairness in Arbitration Act 2007, which would permit those who have disputes with securities brokerage firms to elect whether they wish to proceed in court or before a FINRA sponsor arbitration panel. FINRA and the SEC have worked hand-in-glove to make sure that the investing public resolves disputes before FINRA arbitration, where at least one of the arbitrators is from the securities industry. Additionally, FINRA reminds arbitrators that they need not follow relevant law in their decision-making process.
Posted by Les Greenberg | Jan 16, 2009 4:40 PM ET
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