WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced the appointment of Susan F. Axelrod as Executive Vice President and head of the organization's Member Regulation Sales Practice area. Axelrod, whose new position is effective immediately, succeeds Robert C. Errico, who retired last month.
Axelrod was previously Senior Vice President of Regulatory Operations at FINRA. She joined the enforcement arm of the New York Stock Exchange in 1989, and FINRA in 2007 upon the consolidation of the NASD and NYSE Regulation.
"Susan's talents include deep knowledge of securities regulation and detailed awareness of broker-dealer operations," said Stephen Luparello, FINRA Vice Chairman. "These skills, along with her experience on the front lines enforcing FINRA rules, make her well-suited to oversee the FINRA area responsible for examining most FINRA-registered firms."
Axelrod, 45, received her J.D. from the Hofstra University School of Law in 1989 and her bachelor's degree from Emory University in 1986.
FINRA's Member Regulation department consists of two major areas: Sales Practice and Risk Oversight.
In 2009, Sales Practice conducted 2,075 cycle examinations and 8,826 cause examinations.
Risk Oversight, the other major Member Regulation segment, is headed by FINRA Executive Vice President Grace B. Vogel. Risk Oversight is responsible for regulating about 600 of FINRA's largest broker-dealer members.
About the Financial Industry Regulatory Authority
FINRA is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business - from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit www.finra.org.