2012 FINRA District Committee Election Candidate Profiles – District 9

 

Small Firm Representative Candidates

 

Peter M. Elish
President
Elish & Elish, Inc.

 

Biography

Peter M. Elish: My Bachelor of Science degree is from Rensselaer Polytechnic Institute (RPI) in Metallurgical Science in 1979. I got Series 7 licensed in 1984. Elish & Elish, Inc. was created, from scratch, in 1989, and is full service including stocks, options, mutual funds, municipal and corporate bonds, and investment advising. I have these FINRA licenses, 3, 4, 7, 24, 27, 53, 63, and 65 and I and am a  FINRA arbitrator. The firm under my guidance creates its own written supervisory procedures. Firm element continuing education is also in-house. I am the sole owner of the firm and act both as a manger to the other reps and as a producing broker. My experience includes being an expert witness for various claimants in FINRA arbitration cases. My clientele varies from a small account dollar-cost-averaging $25 per month into a mutual fund to institutional accounts investing millions in corporate bonds. The company, 5 Star, awarded me its Wealth Manager award in 2011. Several years ago I started a Series 7 training school which I closed due to time constraints. Some of my outside activities are that I am on my township's zoning-hearing board and I am the Boy Scout bicycling merit badge counselor for my son's troop. My hobbies are reading and being a licensed high school basketball referee.

Statement
My 28 years of experience enables me to be a great resource with a high level of information about our industry. I believe that I can be a voice of reason to the Board when considering and recommending policy and rule changes. My goal is to have an open door policy to help all firms in District 9 have a professional relationship with FINRA Regulation based on mutual respect. A broker-dealer having a positive view will be more successful in its interests, other B-D's interests, the customer's interests, and in general, the entire industry.


Website: www.ElishBr.com.


 

Allan Goldstein
Chief Compliance Officer & FINOP
SJ Levinson & Sons LLC

 

Biography

Allan Goldstein is currently the CFO, COO and CCO of SJ Levinson & Sons, a FINRA/NYSE member firm where he is responsible for all compliance and regulatory matters as well as the day-to-day operational and financial management of the firm. He has over 25 years experience in the securities industry  beginning as a Specialist Trading Assistant at the New York Stock Exchange. Allan later operated as an independent floor broker at the NYSE until 2006, serving as CCO, CFO and FINOP with the floor based "Direct Access" broker Safir Securities, focusing on institutional agency execution. Allan has additional experience as an Institutional Sales Trader in global equities and fixed income with Freimark Blair & Co., Chief Compliance Officer at Bear Hunter Structured Products, and Compliance Officer at Bear Wagner Specialists, leading its entree into electronic market making on the Archipelago Exchange. Allan earned his Bachelors and MBA degrees in Finance and Statistics from the Stern School of Business at New York University and holds numerous licenses including Series 4, 7, 9, 10, 14, 14a, 24, 27, 55 and 63.

Statement
As a regular participant in District 9 and other FINRA sponsored events year round and a member of senior executive management team at SJ Levinson & Sons, I am intimately knowledgeable of and concerned about the emerging regulatory dilemmas facing small broker dealers and the industry as a whole today in particular with regard to financial technology and electronic market structure. I feel that my rounded and varied experiences with the compliance, operational and financial aspects of running a small broker dealer uniquely qualifies me to serve as a small firm representative to the FINRA District 9 Committee to help shape the response to regulatory challenges we face today.


 

Terri F. Rumans
Chief Compliance Officer
Sage Rutty & Co., Inc.

 

Biography

I am the Chief Compliance Officer and Registered Options Principal of Sage Rutty & Co., Inc. a dually registered broker dealer that has been a mainstay of the Rochester New York financial community for the last 97 years. Since my original registration with FINRA in 1995, I have served in various roles in operations, licensing, AML, and Training.


Since joining Sage Rutty & Co., Inc. in 2007, I have been charged with the design, implementation and execution of all policies, processes and systems required to meet the firm's regulatory obligations. In addition, I am responsible for all interactions with regulators and responsible for coordination on all legal issues. Outside of my Legal and Compliance duties, I assist with marketing to develop strategies for introducing the firm to both clients and advisors, and participate with our management team to secure Sage Rutty's place as a respected firm in our community as we enter our next 100 years.


I currently hold Series 4, 7, 24, 63, life, accident and health licenses. I am a member of the National Society of Compliance Professionals and participate in various programs offered by the Financial Industry Regulatory Authority (FINRA).  

Statement
Over the last twenty seven years in the financial services industry, I have gained the knowledge and tools needed to be able to grasp the unique environment small firms operate in and how best to tailor processes to allow them to comply in an ever changing regulatory environment. As someone with knowledge in all aspects of broker dealer operations, I can assess the impact of regulations and offer suggestions on how to mitigate unintended consequences while maintaining the spirit of any proposed change.


I realize that I have achieved success with the assistance of many along my road, and I continuously look for opportunities to help others in our industry wherever I can. By participating as a District Committee member, I want to use my past experiences to help all firms navigate regulations effectively to be better able to serve the needs of their clients in the future.


 

Keith A. Zanders, Sr.
Chief Compiance Officer
Pinnacle Capital Management, LLC

 

Biography

As the CCO of Pinnacle Investments, LLC, my daily responsibilties include: approving trade blotters, reviewing emails, approving new account applications, and resolving items found via exception reports or compliance testing. Additionally, I supervise branch offices, monitor selling agreements & new products, oversee registered representative compensation, and approve client correspondence. Essentially, my role is to ensure that our firm's compliance policies and procedures are followed and that our employees adhere to our firm's code of ethics.  

Statement
Before I begin to describe why I am running for a seat on the District Committee, I find it necessary to state that answering the previous question was a bit ironic. Not because it was a peculiar question, but because I'm currently responding to audit item requests from both FINRA and the SEC that now seems to make me qualified. I will say that these full audits, which began just as I celebrated my first year as chief compliance officer, have been a tremendous learning experience and have provided insight into regulation and compliance issues that abound in our industry. I believe I can represent small firms with the same passion that I bring to my firm. As a result of being on the committee, I could communicate best practices to small firms in District 9 to improve relationships with FINRA. I believe I can be a champion of fairness and transparency to the industry's clients, and within District 9, I would travel to firms and discuss why compliance and regulation should be a win-win for both the firm and its clients. I hope this statement illustrates my desire to represent small firms. Good luck to everyone!