Large Firms Elect Gregory Fleming to FINRA Board of Governors
WASHINGTON – The Financial Industry Regulatory Authority (FINRA) today announced that Gregory J. Fleming, President of Morgan Stanley Smith Barney and President of Morgan Stanley Investment Management, was elected as a Large Firm Governor on FINRA's Board of Governors. Mr. Fleming fills the seat vacated by Sallie L. Krawcheck, former President of Global Wealth & Investment Management, Bank of America.
Richard Ketchum, FINRA Chairman and CEO, said, "The Board is pleased to welcome Greg and I look forward to working with him on the many important issues that face investors. He brings extensive knowledge and experience to these issues and will be a great asset to our Board."
FINRA has a 22-person Board of Governors, with 11 seats held by Public Governors and 10 by Industry Governors. FINRA's CEO fills the remaining seat. Large firms, consisting of 500 or more registered persons, and small firms, consisting of 150 registered persons or fewer, each have three seats on the Board. Medium-sized firms – those with 151 to 499 registered persons – have one seat.
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.