By Stephen Hall (June 12, 2017, 10:42 AM EDT) -- To hear Wall Street banks and brokers tell it, corporate defendants in U.S. Securities and Exchange Commission administrative enforcement actions are subjected to a one-sided, unfair and unjust system. They insist that this is a miscarriage of justice and that the law must be changed so they can be guaranteed their day in court — where, they say, our judicial system can ensure a fair outcome. But these are the same people who everyday are blocking the courthouse door for millions of their own customers and forcing them into a private arbitration process that favors the banks and provides far fewer guarantees of fairness than an SEC administrative proceeding. Simply put, there is a double standard at work when industry clamors for access to the federal courts while denying that very same right to their customers and relegating them to arbitration. Once again, it's time to set the record straight....