*Letters

SIA Submits Comments to the NASD on Proposed Change to Restrictions of Eligibility to Serve as a Public Arbitrator

Published on:
September 11, 2003

The Securities Industry Association (SIA)* provides comments to the National Association of Securities Dealer (NASD) ona proposed change to rule 10308: restrictions of eligibility to serve as a public arbitrator, File No. SR-NASD-2003-95 – NASD. The intended purpose of the rule proposal is to implement various changes to the arbitrator disclosure provisions, as well as to the definition of public and non-public arbitrators consistent with the Perino Report (Arbitrator Conflict Disclosure Requirements in NASD and NYSE Securities Arbitrations). SIA urges the SEC to reject portions of the proposal. Approval of the NASD could severely reduce the number of competent candidates eligible to serve in the role of public arbitrators.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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