The North American Securities Administrators Association, which represents state securities regulators, has called on the Securities and Exchange Commission to bar investment advisers from forcing clients to resolve disputes through arbitration and give up their right to go to court. "It has been our longstanding position that the 'take it or leave it' approach represented by these mandatory clauses is harmful to investors," NASAA President A. Heath Abshure wrote in a letter to SEC Chairwoman Mary Jo White.

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