|[August 14, 2014]
Firms Elect Two Industry Governors to FINRA Board of Governors, Two New Public Governors Appointed
WASHINGTON --(Business Wire)--
The Financial Industry Regulatory Authority (FINRA) announced the
results of voting that took place at its 2014 Annual Meeting today in
Washington, DC. In accordance with FINRA By-Laws, firms elected two
Governors, one from among the small firms and one from among the large
firms. FINRA also named two new public Governors to its Board of
Governors. Governors are appointed or elected to three-year terms and
may not serve more than two consecutive terms.
Small Firm Governor: Mark Cresap, President and Owner, Cresap, Inc.
Large Firm Governor: Gregory J. Fleming, President of Morgan Stanley
Wealth Management and President of Morgan Stanley Investment
Newly elected, Mr. Cresap will serve as a small firm Governor. Mr.
Fleming has served as a large firm Governor for the past two years and
was re-elected today to a second term.
Two individuals were named to the Board as public Governors:
Elisse B. Walter, former Chairman of the SEC (News - Alert)
Susan Wolburh Jenah, President and Chief Executive Officer of the
Investment Industry Regulatory Organization of Canada (IIROC)
FINRA announced the departure of Charles A. Bowsher, James E. Burton,
John F.X. Dolan, Harvey J. Goldschmid, Ken Norensberg and Kurt P.
Richard Ketchum, FINRA Chairman and Chief Executive Officer, said,
"Congratulations to the Governors. I welcome our two new public
Governors, Elisse Walter and Susan Wolburgh Jenah, as they join this
talented and diverse Board of Governors. Elisse and Susan bring an
extraordinary knowledge of securities regulation and a steadfast
commitment to the interests of investors to FINRA. I look forward to
welcoming Mark in his new role as small firm Governor. I also thank
Chuck, Jim, John, Harvey, Ken and Kurt for their years of dedication and
service to FINRA as they leave the Board."
FINRA is overseen by a 24-person Board of Governors, with 13 seats held
by public Governors and 10 by industry Governors. FINRA's CEO has the
remaining seat. FINRA Governors are appointed or elected to three-year
terms and may not serve more than two consecutive terms.
FINRA, the Financial Industry Regulatory Authority, is the largest
independent regulator for all securities firms doing business in the
United States. FINRA is dedicated to investor protection and market
integrity through effective and efficient regulation and complementary
compliance and technology-based services. FINRA touches virtually every
aspect of the securities business - from registering and educating all
industry participants to examining securities firms, writing rules,
enforcing those rules and the federal securities laws, informing and
educating the investing public, providing trade reporting and other
industry utilities, and administering the largest dispute resolution
forum for investors and firms. For more information, please visit www.finra.org.
[ Back To Technology News's Homepage ]