February 28, 2012
Elizabeth Murphy
Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
rule-comments@sec.gov
Re: SR-FINRA-2012-11 Discretion to Determine Mediator
Dear Ms. Murphy:
Thank you for the opportunity to comment on SR-FINRA-2012-11, which proposes to provide the FINRA Director of Mediation with discretion to determine whether parties may select a mediator who is not on FINRA's mediator roster. I write on behalf of the Public Investors Arbitration Bar Association ("PIABA"), an international bar association, consisting of over 500 members, dedicated to the protection of investors' rights in securities arbitration proceedings.
FINRA seeks to provide an expeditious and efficient process to resolve disputes among customers, members, and registered representatives. Granting the Director of Mediation discretion to approve a mediator that the parties agree to, even if that mediator was not on the FINRA roster, is a benefit in assisting forum participants in working towards a resolution of their disputes.
PIABA supports the proposal.
Respectfully submitted,
Ryan K. Bakhtiari, President