2013 FINRA District Committee Election Candidate Profiles – District 9

 

Small Firm Representative Candidates

 

Peter M. Elish

President

Peter Elish Investments Securities

 

Biography

My name is Peter Elish and I am asking for your vote to serve on the District Committee. My adult life and my qualifications are synonymous. I have worn all hats relative to a small business, clerk to executive, making me understand and deal with the problems of us small broker-dealers every day. Our business of securities has been as is everything to me beginning as a passion for investing in stocks and leading to creating a broker-dealer that provides for my family. My father and I started this firm from the ground floor. I began with the Series 7 license then added the required supervisory licenses to have a full service broker-dealer; compliance (24), financial (27), options (4), and municipals (53), and the financial advisor license (65). I developed a customer base which has made me intimately knowledgeable about retail business and compliance. I write order tickets and complete new account applications. My firm has grown to 14 reps and I am a top producer. My positions at the firm are President and FinOp making me an expert at FOCUS reports, annual reports, and PCAOB. The BOM and I work closely as I am the lead when directly dealing with FINRA. My education is a BS in engineering from Rensselaer Polytechnic Institute, Troy, NY. Outside of work, I serve on my township's zoning-hearing board, am a high school sports official, and past president of the local chamber of commerce. Vote Elish, experienced, trustworthy, pro the small broker-dealer.

 

Personal Statement

Owners of small broker-dealers are independent and so am I. We are a hardy and straight-talking group. Small business is the backbone of America and small broker-dealers are the backbone of our industry. I look to serve on the District Committee knowing that we are FINRA's customers, we are the Member Firms, we make the payments to FINRA, and not the other way around. My opinion on regulation is that FINRA must be able to educate before it is able to regulate and failure to do so is bad business. We member firms must be strong and united. Being afraid of retribution from an angry examiner has to end. My leadership and experience qualifies me to the commitment needed of a Committee Member. I know the issues and have the expertise to develop solutions. Committee members are charged in "alerting FINRA to industry trends that could present regulatory concerns" and I will present that Member Firms complete a performance appraisal of each FINRA exam and examiner. I pledge to attend meetings and participate in a firm, but respectful manner, and look forward to discussing the issues amongst us member firms. I promise to be objective and unbiased, and I look to serve our industry with dignity and professionalism.

 

Website: http://www.ElishBr.com

 


 

Dale A. Pope

President

MerCap Securities, LLC

 

Biography

I have been in the financial services business for more than 30 years. I have held the positions of President/CEO and Founder of four broker-dealers/RIAs. Two of the firms were large based on total number of registered representatives. I am currently the President/CEO/CCO of MerCap Securities, LLC (a small firm).

 

In addition, I have served on the following industry-related boards and committees:

 

NASD District Business Conduct Committee in Philadelphia, PA from 1990-1992.

 

NASD Arbitrator since 1994.

 

FINRA Mediator since 2010.

 

Member of the Financial Planning Association (formally the International Association of Financial Planners) since 1981. Served on the Board of Directors and as Vice-President of Membership for the Philadelphia Chapter.

 

Personal Statement

I am running for a seat on the District Committee because I want to continue making a contribution to the principles of self-regulation, commercial honor, and equitable trading practices while serving on the Committee. I am also sensitive to the needs and concerns of the small firm.

 


 

Terri F. Rumans

Chief Compliance Officer

Sage Rutty & Co., Inc.

 

Biography

I am the CCO and ROP of Sage Rutty & Co., Inc. a dually registered B/D that has been a mainstay of the Rochester NY financial community for the last 98 years. Since my original registration with FINRA in 1995, I have served in various roles in operations, licensing, AML, Compliance, and Training.

 

Since joining the firm 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 participate in various strategic planning and marketing committees 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'm a graduate of The University of Tampa with a degree in Business Administration. I hold Series 4, 7, 24, 53, 63, NYS L,A&H insurance licenses. I am a member of the NSCP, Board Member of the Rochester Area Business Ethics Foundation, and have presented on AML issues with a small firm focus for several conference panels offered by FINRA. Recently, I was invited to participate as a member of a New York State Enhanced Multidisciplinary Team (E-MDT) designed to investigate and intervene in cases of financial exploitation for adults age 60 and older.

 

 

Personal Statement

Over the last twenty eight years in the financial services industry, I have gained the knowledge and problem solving tools needed to be able to grasp the unique environment small firms operate in. I have used these experiences to help "translate" regulations into an easily workable process for my staff to allow them to comply in an ever changing regulatory environment.

 

In an era where firms are finding more and more new regulations are continuously pulling them away from what they loved about the financial services industry; helping clients with their important financial decisions. I want to be able to bring those real life examples to the table and encourage a practical approach to new regulations without compromising the intent of the rule.

 

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 working closely in partnership with regulators through avenues like the District committees we can ensure our mutual concerns are addressed and solutions found.

 


 

Steven D. Trigili

CAMS, Chief Compliance Officer

Garden State Securities, Inc.

 

Biography

I am the Chief Compliance Officer for Garden State Securities, Inc., a small, independent contractor firm with an affiliated investment advisor and insurance company located in Red Bank, NJ. Previously, I served as the CCO for Perrin, Holden & Davenport Corp. of NYC, from 2003 to 2009 and I served as Vice President of Compliance for International Planning Alliance of Fairfield, NJ from 1995 through 2003. I am CAMS-certified, a member of the NSCP, and currently pursuing an MBA.

 

For the past five years, I have been a speaker at national industry conferences and webinars on various topics relevant to managing successful compliance programs. I am regularly asked to comment from a small firm perspective in industry trade publications on issues such as business continuity planning in the wake of recent natural disasters, implementation of FINRA and SEC rules (i.e. suitability), and practical concepts to maintaining an effective branch office inspection program.

 

On a daily basis, I am involved with all aspects of managing the compliance program for my firm. I handle all regulatory inquiries, assist counsel with legal matters, and continually update our WSPs to ensure compliance with all applicable rules and regulations.

 

I provide compliance consulting services to small firms and securities attorneys, and have been certified as an expert witness for arbitrations. I hold FINRA licenses Series 7, 24, 55, 63, 65, and 79, and currently reside in New York City.

 

Personal Statement

I have devoted my entire career to the securities industry and feel strongly about preserving its integrity in challenging times and I look forward to help shape its future. Having worked exclusively for small firms, I am keenly aware of issues that impact their ability to operate efficiently and profitably, and I am confident that I am able to provide objective representation for these members. Not only do I work tirelessly to improve my own personal qualifications, but I work similarly hard for my firm and will do the same as a District Committee member. I would consider it an honor to serve your interests on the Committee and I thank you in advance for your vote of confidence.

 

Website: http://www.linkedin.com/pub/steven-trigili-cams/6/85/8bb

 


 

Rose L. Wilson

VP/Chief Compliance Officer

United Brokerage Services, Inc.

 

Biography

Vice President, Chief Compliance Officer

Oversees Brokerage Compliance Program.

Brokerage AML Compliance Officer.

Brokerage Privacy Manager.

 

Develops, initiates, maintains and revises policies and procedures for the general operation of the Compliance Program and its related activities to prevent illegal, unethical, or improper conduct.

 

Responds to alleged violations of rules, regulations, policies and procedures and standards of conduct by evaluating or recommending the initiation of investigation procedures.

 

Identifies potential areas of risk and develops/implements corrective actions plans for resolution.

 

Provides training and guidance to all members of the brokerage organization.

 

Provides reports on a regular basis to keep Board of Directors and senior management informed of the operations and progress of compliance efforts.

 

Provides guidance to registered personnel and management of the Compliance Program.

 

Currently hold the following FINRA licenses: S7, S66, S24, S53.

 

Have investment experience as a Financial Advisor and have worked in the financial services industry for over 20 years.

 

Currently serve on the following committees with parent company: Risk Management Committee, Gramm-Leach-Bliley Committee, OFAC Subcommittee and the BSA Action Team.

 

Personal Statement

I have held the position of Chief Compliance Officer for the last 6 years and this experience is why I believe I'm well-suited for this vacancy. I have:

  • Stayed up-to-date with the current laws and regulations relating to compliance matters.
  • An understanding of the importance of involving co-workers and upper-management when making important decisions.
  • Strong leadership, communication and analytical skills.
  • The ability to work in a fast-paced environment that's constantly changing.

I am a self-motivated and an enthusiastic individual. Both of which are excellent qualities that can be beneficial to the committee. I am sure I have the qualifications needed to fill this seat. Throughout my career, I've attended meetings with organizations and served as the compliance representative for my company. I've successfully implemented many procedures that have proven to be to very effective.

 

I would appreciate your consideration for this vacancy.

 


Large Firm Representative Candidate

 

Michael J. Carroll

Regional President

Wells Fargo Advisors, LLC

 

Biography

Since 2003, Mike Carroll has been the Senior Managing Director and Regional President for the Northeast Region, responsible for 4 Major Markets and 8 Complexes in the Metro New York/Long Island area, Massachusetts, Connecticut, Maine, New Hampshire, Vermont and Rhode Island, which consists of 1,050 Financial Advisors and produces $700 million in annual revenue. Prior to Wells Fargo Advisors, he worked for Merrill Lynch from 1981 to 1988 as a FA. Mike holds a degree from the University of Arizona in Business Administration as well as MBA Studies at Roosevelt University in Chicago. He earned the Securities Industry Institute's certificate for The Wharton School - 3 year Leadership Program at the University of Pennsylvania. Mike has been a Victim Board Member of MADD, and community leader at the Red Bank Day Care.

 

Personal Statement

As a District Committee member for the past 2½ years, I would like to continue in my role and represent our firm. It is a position I enjoy participating in and look forward to giving back to industry. As a Committee Member, it has afforded me the opportunity to learn more about the industry and, in turn, pass that knowledge onto others at the firm.

 

With these 2½ years under my belt, I have become comfortable with the role and have gotten to know, or have been introduced to, many of our key partners at FINRA. I feel engaged and in a position to make a meaningful difference for us and the industry.

 

It would be an honor to continue in this role.