Small Firm Advisory Board

The Small Firm Advisory Board (SFAB) is an advisory committee established by the NASD Board of Governors in 1998. The SFAB ensures that issues of particular interest and concern to small firms are effectively communicated to and considered by the FINRA Board of Governors. The SFAB reviews and comments on all new and amended FINRA rule proposals, and provides guidance to FINRA staff regarding the potential impact of proposed regulatory initiatives on FINRA's small firms.

The SFAB is comprised of 10 members, five at-large members appointed by FINRA's Board of Governors, and five members elected by the small firms - one member in each of the five FINRA regions. FINRA's three small firm representatives to the Board of Governors serve as ex-officio members of the SFAB. In addition, all SFAB members are affiliated with firms employing no more than 150 registered representatives and are senior executives at their firm.

Small Firm Advisory Board Members

Betsy B. Brennen (Chair)
Harbor Investment Advisory, LLC
Baltimore, MD
(410) 659-8906
Peter M. Elish
Elish & Elish, Inc.
Canonsburg, PA
(724) 745-2200
Allan Goldstein
Trade Informatics
Purchase, NY
(914) 220-1655
Stephen Hart
Allen & Company LLC
New York, NY
(212) 339-2433
Wendy Lanton
Lantern Investments
Melville, NY
(631) 454-2000
Audrey McMahon
Ares Investor Services
Los Angeles, CA
(310) 432-8708
Christopher Melton
Coastal Securities Inc.
Houston, TX
(713) 435-4464
Paige W. Pierce
RW Smith & Associates, LLC
Sandy, UT
(801) 733-9909
Dock David Treece
McDonald Partners, LLC
Maumee, OH
(419) 260-1014
Jim Williams
Gogan & Williams
San Rafael, CA
(415) 526-2751
Mark Cresap (Ex-Officio)
Cresap, Inc.
Radnor, PA
Robert Muh (Ex-Officio)
Sutter Securities, Inc.
San Francisco, CA
Joseph R.V. Romano (Ex-Officio)
Romano Brothers & Co.
Evanston, IL