WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that Jonathan S. Sokobin, currently Acting Deputy Director, Research and Analysis in the Office of Financial Research at the U.S. Treasury Department, will join the organization as Chief Economist and Senior Vice President. In this role, Dr. Sokobin will lead FINRA's Office of the Chief Economist. Dr. Sokobin, who will report directly to Chairman and CEO Richard Ketchum, will start at FINRA on May 20.
The Office of the Chief Economist will work closely with the Office of General Counsel and other departments in developing new rules and analyze the costs and benefits of existing and potential rulemakings. In order to facilitate that effort, the Office will be responsible for gathering and analyzing data on securities firms and markets.
"Jonathan brings stellar academic credentials as well as a distinguished history performing sophisticated economic analysis at the U.S. Treasury Department and the U.S. Securities and Exchange Commission. His expertise will be invaluable in ensuring that FINRA's regulations are intelligently fashioned to protect investors and maintain market integrity without imposing needless costs and burdens on investors and the industry," said Richard Ketchum.
In 2011, Dr. Sokobin joined the U.S. Treasury Department as Chief of Analytical Strategy in the Office of Financial Research. Prior to joining Treasury, Dr. Sokobin was Acting Director of the SEC's Division of Risk, Strategy, and Financial Innovation (Risk Fin). He joined the SEC staff full-time in 2000 and was named Deputy Chief Economist in 2004. From 2008 to 2010, Dr. Sokobin served as Director of the former Office of Risk Assessment.
Dr. Sokobin received his Ph.D. and MBA in finance from the Graduate School of Business at the University of Chicago. He received his bachelor's degree from the Ohio State University. Dr. Sokobin began his career as a member of the faculty of the Cox School of Business at Southern Methodist University.
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.