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Securities Arbitration Theodore G. Eppenstein Testifying in Congress...



Support of the Arbitration Fairness Act of 2007 (H.R. 3010), the Rights of Investors and Abolishing Mandatory Securities Arbitration







  












Securities Arbitration: Theodore G. Eppenstein Testifying in Congress on Oct. 25, 2007 in Support of the Arbitration Fairness Act of 2007 (H.R. 3010), the Rights of Investors and Abolishing Mandatory Securities Arbitration


Theodore G. Eppenstein of Eppenstein and Eppenstein, securities litigation attorneys based in New York City, will be testifying tomorrow in the U.S. House of Representatives Committee on the Judiciary, Subcommittee on Commercial and Administrative Law. Ted will propose to the U.S. Congress that the public be given back their constitutional right to a jury trial, and will recommend the formation of a new arbitration alternative that is fair to public investors -- outside of the securities industry where cases are now held -- for adjudicating brokerage and financial industry disputes.


New York, New York October 24, 2007 -- On October 25, 2007 the U.S. Congress House Judiciary Committee, Subcommittee on Commercial and Administrative Law will be holding hearings on H.R. 3010, the "Arbitration Fairness Act of 2007."



Theodore G. Eppenstein (http://www.eppensteinlaw.com/CM/Custom/representative-cases.html) in which Mr. Eppenstein represented the investors. In the wake of McMahon, Ted was previously asked to testify before two congressional subcommittees. The U.S. House of Representatives Subcommittee on Telecommunications and Finance in 1988 requested that Mr. Eppenstein appear before it and present his opinion of compulsory arbitration and arbitration reform. After testifying, along with his partner Madelaine Eppenstein, Ted assisted the Subcommittee in drafting remedial legislation (H.R. 4960). Mr. Eppenstein also testified before the U.S. House of Representatives Subcommittee on Criminal Justice to present his views on civil RICO reform.



Today, brokerage and financial services industry customers face mandatory arbitration of their disputes at FINRA, the self-regulator of the securities industry, sponsored by the industry, where a representative from the industry sits as one of three arbitrations on every case. Customers complain that FINRA has unwieldy arbitration rules, a lengthy -- and costly -- flawed process, and diminished chances for recovery.



Ted will recommend the formation of a new, independently run arbitration system for investor disputes administered outside of the industry, where only neutrals with no industry ties can be appointed if the parties can't voluntarily agree on arbitrators.



Ted's list of common broker and brokerage firm abuses affecting the investing public can be accessed through the internet portal to the firm's website (http://www.eppensteinlaw.com). Each one of these potential claims is fact-specific and can differ according to jurisdiction. Investors are advised to consult attorneys who have experience in this field about their potential claims. Information about securities arbitration can also be found on the firm's Securities Fraud Hotline (http://www.securitieslawarbitration.com/Securities-Arbitration-Results.html)for their clients. Ted has served for years as one of three public members of the Securities Industry Conference on Arbitration, a think tank that meets regularly, attended by representatives of FINRA, NASD, NYSE, SIA, NASAA and the SEC to discuss arbitration matters. The attorneys at Eppenstein and Eppenstein have extensive experience representing investors in actions against securities and commodities brokers and their brokerage and financial services firms, and in representing individuals and businesses in commercial litigation and in brokerage industry employment disputes. The firm has successfully represented international clientele (http://www.eppensteinlaw.com/CM/Custom/representative-cases.html). The portal to the firm's web site, http://www.eppensteinlaw.com (


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