Highbeam Business (Compliance Reporter) (May 16, 2005) -- A co-founder and board member of the Public Investors Arbitration Bar Association, said he would not recommend clients in the U.K. use the NASD's new option of holding arbitration in London. The member, Seth Lipner, said British law is less consumer friendly than American law, which could make it difficult for investors to win in arbitration. "I would never advise any consumer to bring any claim in any English tribunal," said Lipner, also partner at Deutsch & Lipner in Garden City, N.Y.

The Securities and Exchange Commission recently approved a change in the NASD Code of Arbitration Procedure that allows investors to hold arbitrations in locations outside the

. . . read more