Sprott Global Resource Investments Ltd.
I have worked in the securities industry since 1987, in both introducing and clearing firms. I've worked in operations, accounting, compliance, sales, marketing, client relations, trading, and training. In my role as CEO of a small retail firm, I am on the front line of both the micro and macro issues facing our firms every day. I have served on SIFMA's Clearing Firms Committee, as well as several regional and national broker-dealer peer groups and round tables. In addition to working at small firms for 17 years of my 26 year career in the industry, I worked closely with many of them during my nine years at RBC Correspondent Services, in my roles as Senior Operations Manager and Senior Relationship Manager. I understand the business and regulatory challenges facing all of us as small firm owners and operators.
I live in Carlsbad, CA with my wife, Jodie, who is also a securities industry principal. We're recent empty-nesters as our youngest has just begun college in Colorado.
My approach to this position is truly that of being a representative of the small firms in the district, rather than seeing it as an opportunity to advance a specific agenda beneficial to my own firm. I decided that after having been the beneficiary of 26 wonderful years in this industry, it is time for me to try to give back to the business that has given me so much.
I believe it will be my responsibility to LISTEN, above all else, and ensure that the concerns and needs of the district's small firms are accurately and passionately conveyed to the committee and to the regulators. For better or for worse, I believe in cooperation and mutual understanding as the best path to success; I am by nature skeptical of regulation, but recognize the realities of the current environment and the need to keep the dialog respectful and empathetic. That said, the public and the regulators must be continually reminded of the economic realities of small business operations, and of the critical role businesses like ours play in the larger economy. Thank you for your support. Please contact me at any time with any questions or concerns.
Chief Operating Officer/Chief Compliance Officer/FINOP
Puplava Securities, Inc.
I am currently the Chief Operating Officer, Chief Compliance Officer and FINOP for a small broker dealer and registered investment adviser. I have been in the industry for over 20 years with experience ranging from being a sales assistant, implementing a managed account program for a major independent firm, private compliance consulting, to my current position as COO of a firm. I have expanded my skill based upon the needs of the firms in regards to financial reporting, annual budgets, contract negotiations and human resources. Given my experience with several startup firms, including a broker dealer formation, I have a good understanding of how all departments work together and I'm familiar with each of the areas necessary to keep the firm running and in compliance with all regulatory requirements.
I currently hold the Series 7, 24, 27, 51, 99 and 63 registrations in addition to the Series 66. I have a BA in Economics from the University of New Hampshire.
My extensive experience with SEC and FINRA audits provides a perspective on uniformity in regulations and information sharing between two entities as well as a comparison of the impact of regulations on firms our size (financial, staff burdens, etc.) This has provided opportunities to review the audit process and regulations that are most helpful or essential to securities firms and the areas that could use improvement. I would be a pragmatic voice as an advocate for regulations that are best related to the real-world challenges facing smaller firms today. There needs to be a greater partnership between firms and regulators and I would welcome the opportunity to serve the membership of District 2.
Chief Risk Officer
First Allied Securities, Inc.
I am the Chief Risk Officer of First Allied Securities, which is located in San Diego and offers brokerage and investment advisory services nationwide. In my current role, I have responsibility for the Legal, Compliance, Supervision, and Audit departments of the firm, a team of approximately 60 professionals. My primary areas of focus are design and implementation of programs to comply with laws and industry rules, identification and mitigation of legal and regulatory risks, and management of legal matters and regulatory inquiries.
I have worked in the securities industry for nearly 30 years. Prior to joining First Allied, I served as General Counsel of Royal Alliance Associates and prior to that, Integrated Resources Equity Corporation. Both were broker-dealers and investment advisory firms with more than 2,000 representatives. I also spent several years in private law practice, representing broker-dealers, investment advisers, and investors in litigation and regulatory matters. I am familiar with virtually every type of security and investment-related service, including retail brokerage and trading, syndication and underwriting, and clearing firm operations. I have also been a FINRA arbitrator and mediator for more than 20 years, and have served as a Chairperson or panel member in numerous hearings. I am a frequent speaker at securities industry conferences and events, with recognized expertise in matters related to securities law and regulation.
FINRA District Committee members serve two primary functions: Assisting FINRA staff in understanding how best to design and enforce rules to protect investors and market participants, and serving on disciplinary panels. The securities industry is heavily regulated. In many cases, rules are well-intentioned, but created or implemented without sufficient understanding about how they will operate in practice. I believe I can offer perspective as a lawyer and industry professional who is familiar with not just the rules, but how they work in real life, how they should be interpreted, and possible unintended consequences.
The securities industry relies heavily on the trust of the investing public. We need to be firm in holding our members accountable if they do not obey the rules and act in the best interest of their clients. In order to effectively do that, the District Committees need members who have worked with both industry professionals and clients, and who can properly apply the standards of conduct to which we should be held. We cannot hesitate to take disciplinary action against individuals who do not uphold our standards, but there are two sides to every story. Rendering fair decisions requires knowledge of the rules, understanding about people's motives and behavior, and a sense of proportion and fairness if discipline is warranted. I believe I can bring all of those abilities to the process.