Jun. 18, 2024
Dear Secretary, Securities and Exchange Commission: I am Vice Dean and Professor of Law at the Elisabeth Haub School of Law at Pace University. I have taught classes and published scholarship in the field of securities arbitration for 25 years. I directed the law school's Investor Rights Clinic for 15 years, in which students represent, under faculty supervision, investors with small dollar value claims against their brokerage firms. I also am a former public member of FINRA's NAMC, and have advocated for investor rights in various forums and media. I write to support SR-FINRA-2024-008, a proposal to amend FINRA Rule 12800 to clarify and amend the applicability of the Document Production Lists to Simplified Arbitrations. Providing clarity to customers, including pro se parties, in Simplified Arbitrations can only enhance the fairness of the arbitration process. By allowing customers to opt into the applicability of the Document Productions Lists, regardless of whether they request an in-person hearing, a paper hearing or a "special proceeding," FINRA increases investor choice. In addition, the rule change allows customers to avoid the dilemma of wanting the Document Lists to apply but not wanting to necessarily request an in-person hearing. Customers, who typically are not the party in possession of the most relevant documents, should be able to invoke the same discovery process for all Simplified Arbitration cases, regardless of the mode of hearing. I applaud FINRA's efforts to increase the fairness of Simplified Arbitration. Thank you for the opportunity to comment on this proposal. Jill I. Gross Vice Dean for Academic Affairs and Professor of Law Elisabeth Haub School of Law, Pace University (914) 422-4061 www.law.pace.edu