Nope. It moves to compensate for the lengths of the cables. In other words, the compensator will always center itself between the cables, so that they will always engage at the same time. If it were locked in place, then if one cable was slightly shorter in adjustment, that brake would engage first. In an extreme mis-adjustment, only one brake would ever engage. Thus the name "compensator"...and the reason for the grease fitting. Inordinate amount of movement is a good thing!