Small Firms Information
SFAB Candidate Profiles – North Region
Michael C. Braun
Chief Operating Officer-Chief Financial Officer
Moors & Cabot, Inc.
Candidate Biography
Michael Braun is the Chief Operating Officer, and the Chief Financial Officer for Moors & Cabot, Inc. Moors & Cabot was established in 1890, and is an institutional and retail boutique. Mr. Braun sits on the Board of Directors of Moors & Cabot. Mr. Braun held management positions at both Fidelity Investments (9 yrs), and Merrill Lynch Inc.(9 yrs). Mr. Braun was on the FINRA District 11 Committee (2002-2004; Vice Chair 2004), and also the FINRA District 11Nominating Committee (2005-06). Mr. Braun currently serve as an arbitrator for FINRA, and has sat on FINRA's Disciplinary Hearing Panels.
Candidate Statement
Over the past 30 years we have experienced substantial change in the financial industry's rules and regulations. With unprecedented negative events in the industry that have plagued investors we have thankfully seen a dramatic increase in market surveillance, regulatory examination scope, and rules focused on consumer protection. These are necessary steps to restore investor confidence, but regretfully these steps have not adequately protected the interests of smaller firms. If I were to become a member of the SFAB, I would vigorously advocate for the representation of the smaller firm. Most legal and financial reforms resulting from the actions of larger firms have a direct impact on the resources of smaller firms, leaving most ill equipped to take on the financial burden of reform. I believe the survival and prosperity of the small firm is in the public's best interest. The small firm is the heart of the industry, providing competitive independence for equality and representation in the marketplace for all investors regardless of net worth. Given the many challenges facing small firms today the SFAB is in a crucial position to ensure that the voice of the small firm is heard. I hope to be a part of that effort.
W. Dean Karrash
Sr. Executive V. P., Chief Financial Officer & Chief Compliance Officer
Burke, Lawton, Brewer & Burke, LLC
Candidate Biography
As a senior executive and member of an independently owned firm, I feel that I am highly qualified to serve as an SFAB member due to my industry background and broad experience in a wide variety of corporate functions, including all compliance and financial operations at both broker-dealers and asset management firms. My current position as CFO and CCO of a broker-dealer (with a related registered investment advisor entity) allows me to evaluate and understand the implications of new and proposed regulations and their effects on small firms. As an active member of FINRA's Financial Responsibility Committee, I am also exposed to the more technical side of financial regulation and its effects on small firms. My experience of working with other firms of varied sizes on financial regulatory reform combined with the broader industry related regulatory reforms discussed at the SFAB will provide the small firm members of FINRA with an advocate who understands not only the financial and operational challenges faced by them but one who possesses a broad perspective on regulatory challenges as well. I respectfully submit, for consideration, my resume which details my professional experience and background, as well as a brief biography and summary of my qualifications.
Candidate Statement
I am interested in running for a seat on the SFAB primarily to be able to promote and protect the interests of the many small firms that are registered with FINRA during this time of great challenge and change within our industry. As we begin to assess the fallout from the many scandals that have shaken our industry during this economic downturn, I am interested in participating in the process that will undoubtedly occur as regulations again get scrutinized, altered and revamped in order to attempt to avoid these problems and situations in the future. I am most concerned with the effect that these new and more demanding regulations will have on the operations and cost structures of small firms all across the country. I feel that my professional background, with experience in working with both broker-dealer and asset management firms, provides me with the unique perspective needed to assess proposed regulatory changes in this post-Madoff environment.
John D. Lane
CEO, Founder, President
Lane Capital Markets
Candidate Biography
I served earlier in my career on the Small Firms Advisory Board and found it gratifying in that what we proposed that was good for the small firms actually got heard by the board and that so many of our proposals were put in place. I have a practical working knowledge of what works in the securities industry and have committed to use the next phase of my career to again work on helping the small firm contingents voice to be heard. I am again growing my business after 2+ years of family issues and know I can again bring my many years of active business experience to help this worthwhile committee. I have served on several boards of both public and private companies and am keenly aware of the challenges facing our industry and more importantly our country.
Candidate Statement
I know what works and more important what does not work within our industry. I have formed so many time tested relationships that allow me to question issues and get practical educated answers served on before making decisions. I have always worked for small firms and am not afraid to push any helpful issue, I and/or any committee I have been associated with, uphill to the finish line.
Tina Blakeley Maloney
Chairman/Financial Operations and Compliance
Winslow, Evans & Crocker, Inc.
Candidate Biography
Tina Blakeley Maloney is the chairman and majority owner of Winslow, Evans & Crocker, Inc. ("Winslow"), a dually licensed full-service Broker/Dealer and SEC Registered Investment Advisor headquartered in Boston, Massachusetts. Ms. Maloney manages the financial operations and compliance areas of the firm and is active in business and client development. Since joining Winslow in January 1994, Ms. Maloney has served the firm in the capacities of Chief Financial Officer, President, and Chief Operating Officer.
Ms. Maloney's career in the securities industry began in 1979. Her experience in management, sales, compliance and administration includes work for both small and large firms, namely Winslow, Merrill Lynch, Lawrence Energy Associates, Putnam Financial Services, Dean Witter, Moseley, Hallgarten, Estabrook & Weeden, and Drexel Burnham Lambert.
Ms. Maloney is a General Securities Principal, Financial Operations Principal, and a Registered Investment Advisor Representative (Series 24, 27, 7, 63, 65). She is Chairman of the FINRA District 11 Committee, member of the FINRA 2009 Advisory Council, and serves as a Hearing Panelist in various FINRA Disciplinary Hearings. She attended Suffolk and Northeastern Universities in Boston.
Candidate Statement
With the recent crises, including the Lehman failure, the Madoff scandal, product abuses, and the understandable loss of investor confidence, our firms are faced with ever-increasing industry regulation. There has never been a more critical time for small firms to have proper representation in the rule-making process. It is imperative that an experienced professional, an owner/operator of a small firm with broad-based experience represents us to protect against regulation with serious negative impacts, unintended or otherwise, on our businesses.
I have become a candidate for the Small Firms Advisory Board so there can be a strong and effective ally representing the interests of small firms.
My 30+ years of financial services experience encompasses sales, compliance, management and administration--the past 16 with a small firm, Winslow, Evans & Crocker, Inc. of which I am the chairman and majority owner. Since I began at Winslow, I have worn every hat in the company, often simultaneously. I know firsthand the personal sacrifices made by small business owners; instead of adding staff to help with the demands of the business, you work longer hours and use that "savings" for the technology, third-party vendors, accountants, and other services that are necessary to be compliant.
My firm has been successful over these many years, growing from 6 to 67 representatives, but it has never been easy nor will it be in the future. I will advocate for our businesses and welcome your input . I ask for your vote in the election.
Tommasina Anne Olson
President/Chief Compliance Officer
LifeVest Financial, Inc.
Candidate Biography
I hold a BA, an MS, and an MBA as well as Series 7, 24, 28, 63, and 66. Prior to becoming FINRA licensed I was an Educator and an Administrator.
Upon completing my MBA I began my financial career working for a boutique firm where, after 10 years I moved to another regional firm, completing a decade there. As a Branch office it was necessary to meet compliance requirements. In 2006 I was accepted as a member by NASD which subsequently became FINRA.
I have served on Boards and Committees both locally and at the State level. I have evaluated new proposals and their consequences. I have served as an elected Town Official and have built a reputation for fairness and action. My record in the financial industry is exceptionally clean.
As a member of the financial industry for over 20 years I am well aware of the responsibilities that RR's and Firms have to their clients. I firmly believe that Small Firms provide the greatest service to investors, and while regulation is necessary, most Small Firms survive because of their clients' loyalty.
Candidate Statement
I wish to serve as a member of the Small Firm Advisory Board because I believe that I am in a unique position to understand the issues that confront Small Firms in this regulatory environment. Beyond my Series 7 and Series 66, I hold a Series 24 (Compliance) and have served as a Dual member managing the Compliance issues for another Firm as well as my own, LifeVest Financial, Inc. I also serve as FINOP and hold a Series 28 and have completed Quarterly Focus reports. Since becoming a FINRA firm I have completed 2 Routine Exams. I believe all these experiences have contributed to my knowledge and understanding of the changing issues confronting Small Firms today.
I believe I am forward thinking and give full analysis to proposals before they become rules.
I would like to serve you on the Small Firm Advisory Board as your representative and I welcome your concerns, ideas and questions. I promise to listen.
Please contact me at tomiolson@lifevestfinancial.com.