FINRA announced the election or appointment of four Governors to its Board of Governors:
- Chris W. Flint, President & Chief Executive Officer, ProEquities, Inc. and Senior Vice President, Distribution Companies for Protective Life Insurance Company, was elected by large firms as a Large Firm Governor, one of three representatives of large firms on the Board.
- FINRA small firms elected Linde Murphy, Chief Compliance Officer, M.E. Allison & Co., Inc., as one of three small firm representatives on the Board of Governors.
The two newly elected Governors join two new public Governors on FINRA’s Board. The two new public Governors, who were nominated by the Nominating Committee and approved by the full Board at its July Meeting in Washington, DC, are:
- Camille Busette, Director of the Race, Prosperity, and Inclusion Initiative and Senior Fellow in Governance Studies at the Brookings Institution; and
- Ethiopis Tafara, Vice President and General Counsel of Legal, Compliance Risk and Sustainability at the International Finance Corporation (part of the World Bank Group).
All four new governors begin their three-year terms on FINRA’s Board effective immediately.
“Congratulations to Chris and Linde on their elections to the FINRA Board of Governors, and to Camille and Ethiopis on their appointments. We are looking forward to working with them,” said FINRA Chairman William H. Heyman. “I also want to thank Andrew Duff and Bob Muh for their service on the FINRA Board. They have served the Board with distinction and we will miss their trusted counsel and friendship.”
“Our new Board members bring with them a broad array of backgrounds and experiences,” said FINRA CEO Robert W. Cook. “Their diverse perspectives will be a valuable contribution to our ongoing commitment to protecting investors and ensuring vibrant markets.”
FINRA is overseen by a 24-member Board of Governors, the majority of whom are public members. The industry governors include three from large firms, one from medium-size firms, three from small firms, one floor member, one independent dealer/insurance affiliate and one investment company affiliate. FINRA Governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry – brokerage firms doing business with the public in the United States. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.