Securities Industry Association President Marc E. Lackritz presented a strong case for the fairness and efficiency of self-regulatory organization-sponsored arbitration as a means of resolving disputes between customers and brokerage firms when he testified yesterday before the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. The hearing, “A Review of the Securities Arbitration System,” will begin at 2:00 p.m. in room 2128 of the Rayburn House Office Building.
“The current system of SRO-sponsored arbitration not only works, but works well,” Lackritz said. “The facts show that disputes continue to be resolved more expeditiously, efficiently, and fairly than they would be in our already overburdened court systems.”
The complete text of SIA’s written testimony is available at:
http://www.sia.com/testimony/html/sec-arbitration3-17-05.html
