Corrected: FINRA Announces New Public Board Members
WASHINGTON—The Financial Industry Regulatory Authority (FINRA) has named two new Public Governors—Joshua S. Levine and Robert W. Scully—to its Board of Governors.
Mr. Levine is a recognized leader in financial services technology. Earlier in his career, Mr. Levine served as Chief Technology and Operations Officer at E*TRADE, where led an effort to re-architect their technologies by moving to open source. He also serves on the board of a number of non-profits, including DonorsChoose.org, which connects philanthropy and public education through technology, and NPower, which helps non-profits with affordable IT services. Mr. Levine is currently a Managing Director of Kita Capital Management.
Mr. Scully serves as an Independent Director on several public company boards, including KKR & Co. LP, ACE Limited, and Zoetis Inc. Mr. Scully also serves on the Board of Dean's Advisors of Harvard Business School and the New York Advisory Board of Teach For America. Mr. Scully served in several senior positions at Morgan Stanley from 1996 through 2009. Mr. Scully received an M.B.A. from Harvard Business School and a bachelor's degree from Princeton University.
In August, FINRA announced that Elisse B. Walter, former Chairman of the Securities and Exchange Commission (SEC) and Susan Wolburgh Jenah, former President and Chief Executive Officer of the Investment Industry Regulatory Organization of Canada (IIROC) had been named to FINRA's Board as Public Governors. Ms. Walter was sworn in as a Commissioner of the SEC in July 2008. She was later designated the 30th Chairman of the SEC, and she served as the SEC's leader from December 2012 to April 2013. Ms. Wolburg Jenah recently retired as President and CEO of IIROC, a position she had held since the regulator was established in June of 2008.
"On behalf of the Board, I would like to extend a warm welcome to Josh and Bob. Their valuable expertise and depth of experience will help FINRA move forward in its mission to ensure the integrity of our markets and protect the investing public. With today's announcement, as well as the recent appointment of Elisse Walter and Susan Wolburgh Jenah, FINRA's Board has an outstanding new group of Public Governors dedicated to advancing FINRA's mission," said Richard Ketchum, FINRA's Chairman and Chief Executive Officer.
FINRA is overseen by a 24-person Board of Governors, with 13 seats held by public Governors and 10 by industry Governors. FINRA's CEO has the remaining seat. FINRA Governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.
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.