finra

FINRA

For Release:
Contacts:

Wednesday, August 3, 2011
Nancy Condon (202) 728-8379

 

 

Firms Elect Two Industry Governors to FINRA Board of Governors

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced the results of voting that took place at its 2011 Annual Meeting. In accordance with FINRA By-Laws, firms elected two Governors, one from among the small firms and one from among the large firms. These two newly elected Governors begin their terms immediately. Governors are appointed or elected to three-year terms and may not serve more than two consecutive terms. Approximately 46 percent of the FINRA member firms eligible to vote participated in the election at its 2011 Annual Meeting in Washington, D.C., on August 3.

 

At the meeting, securities firms elected two Governors to FINRA's 22-member Board.

 

Governors Elected

  • Small Firm Governor: Ken Norensberg, Chief Operating Officer, Tritaurian Capital Incorporated.
  • Large Firm Governor: Sallie L. Krawcheck, President of Global Wealth & Investment Management, Bank of America.

 

Elected in August 2010, Mr. Norensberg has served as a small firm Governor for the past year. Ms. Krawcheck replaces FINRA Board member Richard F. Brueckner, who had served as a large firm Governor on the FINRA Board since its inception in 2007.

 

New Lead Governor Named

Jack Brennan, Chairman Emeritus of The Vanguard Group, Inc., was elected by the Board in July to serve a one-year term as Lead Governor, replacing departing Lead Governor Brueckner.

 

Governors Re-Appointed

Five individuals were also recently re-appointed to the Board, including four public members.

  • Floor Member Representative: John F. X. Dolan, Knight Capital Americas, L.P.
  • Public Governors: Charles A. Bowsher, Former U.S. Comptroller General; James E. Burton, California Strategies, LLC; Harvey J. Goldschmid, Columbia University Law School; and Kurt P. Stocker, Northwestern University.

 

Richard Ketchum, FINRA Chairman and Chief Executive Officer, said, "Congratulations to the newly elected governors. I am looking forward to working closely with them as they join this talented and diverse Board of Governors and focus our efforts toward fostering FINRA’s mission of investor protection and market regulation.”

 

FINRA, the Financial Industry Regulatory Authority, 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 rules, enforcing those 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 firms. For more information, please visit www.finra.org.