2013 FINRA District Committee Election Candidate Profiles – District 8

 

Small Firm Representative Candidates

 

Ross M. Langill
Senior Managing Director—Syndicate

Regal Securities, Inc.

 

Biography

 

Joined Marine National Bank Trust Department in 1968.

 

1969 Harris Upham as a RR, became a branch OTC Liaison. 1979 joined The Milwaukee Company as VP and Syndicate Manager. Presently serves as an OSJ and Principal with Regal Securities.

 

Through his career specialized in venture capital, underwritings of IPOs and FOs, private placements, mergers and acquisitions. Managed over 20 public offerings and coordinated and distributed over 2400 IPOs and FOs.

 

Handles SMAs for both individuals and institutions. Professional associations have included the SIA for which he served on: Government Relations, Minority Capital and Membership Committees.

 

Testified as an expert witness at the SEC on regulatory reform. Member of the Investment Association of New York and the Bond Club of New York.

 

Held positions in the WI Governor’s Commission on Professionalism in the Securities Industry and the WI Commission on Judicial Reform. Chairman of the WI MESBIC. Review editor for the “SIA Capital Markets Handbook.”

 

B.A. in Psychology and Economics, Grinnell College. Graduate studies at the University of Wisconsin Law School.

 

Founded Regal Bay Investment Group, an RIA, in 2002. Regal Bay offers wealth management through separately managed brokerage accounts, advising financial institutions on Syndicate and underwriting matters.

 

Langill has passed: FINRA Series 1, 4, 12, 24, 63, 65; NYSE Branch Office Manager; Chicago Board Of Trade Futures. He has also attained: S79-IB and S99-OS.

 

Statement

I believe, through my experiences in the financial services industry, I can make valuable contributions to protection of individual and institutional investors.

 


 

Lisa L. Lauria

Co-CCO & Operations Manager

Thurston Springer Miller Herd & Titak, Inc.

 

Biography

 

I began my career in the financial services industry 20+ years ago. My tenure includes banks, credit unions, insurance based firms and securities based firms, providing a broad base of knowledge which I continue to tap into to serve in my current position as Co-CCO and Operations Manager at a dually registered broker-dealer and SEC registered investment adviser firm in Indiana.

  • Proven record in building, implementing and maintaining an effective compliance program in which sales people are at the heart of what we do. I strive to balance regulatory matters with sales people and customer needs.
  • Areas of skill and experience include being a leader of compliance, operations, supervision and development & management of people, expense management and technology.

Current licenses and registrations are:

 

Series 24, Series 53, Series 99, Series 7, Series 65, Series 63, Indiana Life, Accident & Health Insurance, Variable Annuities

 

Personal Statement

As a registered principal with responsibilities for 150+ registered persons over my career, no registered person has been fined or disciplined for sales practice matters while supervised by me.

 

I strive to implement rules that are necessary in a manner that causes the least burden.

 

I am an advocate for regulation that keeps good firms writing clean business as efficiently and effectively as possible.

 

I am an integral part of the firm, successful interacting with and relating to regulators, management and firm employees at all levels.

 

If you want to be represented by someone with these principles, vote for me.

 

Sincerely, Lisa

 


Large Firm Representative Candidates

 

Jeffery 'Jay' Bley

Chief Operating Officer

The O.N. Equity Sales Company

 

Biography

I received as BS degree in Business Administration from Miami University in 1993. I was employed by Fidelity Investments from 1993-1999 prior to joining my current firm, The O.N. Equity Sales Company. I served as the firm's Chief Compliance Officer from 2004-2012, prior to being named Chief Operating Officer. During this time, I also served as CCO for the firm's affiliated RIA, as well as the parent company's institutional broker dealer Ohio National Equities, Inc.

I am designated as a Certified Regulatory and Compliance Professional through the FINRA Institute at Wharton Program that I completed in 2001. I am also a graduate of SIFMA Securities Industry Institute program at Wharton. I served as an industry arbitrator and also on the Board of Directors for the Financial Services Institute in 2011.

 

Personal Statement

I've been actively involved in the securities industry for several years. I am looking to apply my knowledge and experience by directly participating in the process. I will work hard to represent the interests of member firms in District 8 by being informed on pertinent issues and engaging in productive dialogue to have a positive impact on the regulatory process.

 


 

Timothy P. Byrnes

Complex Manager

Morgan Stanley

 

Biography

  • Served a 3 year term (2009-2012) on FINRA District Committee (District 8)
  • 25 Years experience in the Financial Services Industry split between a Wirehouse (Morgan Stanley 1998-Present) and a Bank owned Broker Dealer (Investment Network 1989 - 1998)

Personal Statement

As our industry continues to evolve there are at least four large challenges that will need to be addressed by the industry in the near future.

  1. Aging Client demographics
  2. Aging Financial Advisor demographics
  3. The continuing of changing regulation from the impact of the 2006-2009 Financial Crisis.
  4. Regulation around Client Communication as it relates to Social Media

I believe my industry experience across, Sales, Legal, Compliance and Branch Management give me a unique perspective to be able to give input on addressing these issues.

Having once served on the District 8 Committee, I have a better understanding of how the Committee works and can hopefully have a more immediate impact on these and other very important issues that will come before the committee.

 


 

William Hayden

Chief Compliance Officer

Keybanc Capital Markets Inc.

 

Biography

I have worked in both the securities industry and in regulatory organizations during my career. I am currently the CCO for KeyBanc Capital Markets and, prior to that, was Director of FINRA's Office of Emerging Regulatory Issues for several years. During my time at FINRA, I participated in or appeared before multiple FINRA committees, including several of the district committees. My prior industry experience includes several senior compliance positions at Wachovia, including CCO for Corporate and Investment Banking. Before joining Wachovia, I was a staff attorney and branch chief in the SEC's Office of Compliance Inspections and Examinations. I believe my combined experience as both a regulator and an industry participant will allow me to add value of the District Committee.

 

Statement

Having spent significant time as both a regulator and an industry member, I think I would bring a unique perspective and insight to the District 8 Committee. On the one hand, I understand FINRA. While working in the Office of Emerging Regulatory Issues I had frequent interaction with departments across FINRA. As a result, I know FINRA's structure and processes and I'm familiar with staff throughout the organization. On the other hand, I've worked in multiple compliance roles at industry firms and I'm well aware of the concerns that arise when an organization strives to effectively balance both business goals and regulatory requirements.

 

 

During the 5 years I was a FINRA, I came to appreciate — in a way that I hadn't during my earlier time in the industry — the value of maintaining an open and robust dialogue through the FINRA committee process. I observed the significant impact that member firms can have on regulatory matters when they provide honest feedback, balanced criticism, and insightful suggestions. This dynamic was particularly evident at the District Committee level and a primary reason I believe participation in that process is important. I think my background and experience will enhance those efforts and help to more effectively communicate industry ideas and concerns in an actionable way to FINRA staff.

 


 

Donald E. Merrifield

Senior V. P./Director of Taxable Fixed Income

J.J.B.Hilliard, W.L.Lyons, LLC

 

Biography

Donald E. Merrifield is the Director of Taxable Fixed Income for Hilliard Lyons. In this capacity, he is the principal responsible for the day to day management and supervision of the department. This includes trading, underwriting, retail sales and marketing. The products that are traded within the department include governments, GSE's, zero coupons, mortgage-backed, commercial paper, CD's, corporate bonds, preferred stocks, precious metals and unit investment trust. Mr. Merrifield is also the principal responsible for the management and supervision for the Equity Syndicate Dept. Mr. Merrifield joined Hilliard Lyons in 1982, serving as the person responsible for all mortgage-backed trading. His duties expanded to trading all government and GSE's. In 1993, he assumed active management of the department. Prior to joining Hilliard Lyons, he was employed at First National Bank of Louisville from 1978 to 1982, where he traded governments, GSE's and mortgage-backed securities. Mr. Merrifield is a registered representative having his Series 7, & 63 licenses. He also is a General Securities Principal with his Series 24 license and a Limited Representative-Equity Trader with his Series 55 license. Mr. Merrifield served on the FINRA Fixed Income Committee for four years and in 2013 served as an expert witness for FINRA in a markup case. Mr. Merrifield is an active member of the Securities Industries and Financial Market Association (SIFMA).

 

Personal Statement

I have been in the securities industry since 1980 where I started working for First National Bank of Louisville. My main duties were funding, clearing, and keeping track of all profits and losses of the bank's proprietary arbitrage trading. In 1982, I started working for Hilliard Lyons where I was hired to establish mortgage-backed trading as well as being the primary trader of all government and agency products. My duties also included trading commercial paper, banker's acceptance, and precious metals. In 1993 I was promoted to the Director of Taxable Fixed Income where I am the principal, with my Series 24 license, responsible for the oversight of all Taxable Fixed Income Trading as well as Unit Investment Trust Trading and Equity Syndicate. I also served on the FINRA Fixed Income Committee for four years and in 2013 I served as an expert witness for FINRA in a markup case.

 

With all the experience listed above I believe I would bring a wealth of knowledge, in many different areas, from a trading perspective. Hilliard Lyons' believes in being active with all regulatory bodies therefore I have the full support of our executive team in representing our firm. I also believe it is important for committee's to have all lines of business represented and I feel I am uniquely qualified to fill this role on this committee.