Michael S. Edmiston is an attorney with Jonathan W. Evans & Associates and is the immediate past president of
He is a former NASD Dispute Resolution senior staff attorney and business manager for a national dispute resolution firm. Since 2006, he has represented investors in claims against brokerage firms, RIAs and other financial services companies.
Mandating the use of pricey arbitrators for retail investor complaints makes no sense — other than to make the process prohibitively expensive, argue two investor advocates.
Clients with a dispute against their advisor are often compelled to pay upfront for arbitration, which is unfair, write attorneys Christine Lazaro and Michael Edmiston.
With a new administration, the regulator has an opportunity to renew its focus on a key pillar of its mission.