One Small-Firm Industry Governor Elected to FINRA Board, Two New Governors Appointed
WASHINGTON —The Financial Industry Regulatory Authority (FINRA) announced the results of voting that took place at its 2016 Annual Meeting today in Washington, D.C. In accordance with FINRA By-Laws, small firms elected one Governor. FINRA also named two new public Governors to its Board of Governors.
Bob Muh, Chief Executive Officer, Sutter Securities, Inc. was elected as a Small Firm Governor, one of three representatives of small firms on the Board of Governors.
The Nominating Committee nominated and the Board appointed two new public governors whose terms will begin as of the annual meeting:
- Eileen Murray, co-CEO of Bridgewater Associates
- Hillary Sale, Walters D. Coles Professor of Law at Washington University in St. Louis Law School
In addition, the following four public governors were appointed to second terms that begin as of the annual meeting:
- Rochelle B. Lazarus, Chairman Emeritus, Ogilvy & Mather
- Brigitte C. Madrian, Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School of Government
- Leslie F. Seidman, Former Chairman, Financial Accounting Standards Board
- Luis M. Viceira, George E. Bates Professor at the Harvard Business School and Senior Associate Dean for International Development
“I welcome all of the new Governors to the Board, and look forward to working with them as the Board continues to develop policies and strategies that will advance FINRA’s mission of market integrity and investor protection,” said FINRA Chairman Jack Brennan. “The new Governors bring a broad array of experience and insight to the Board and will be an invaluable asset to our decision making.”
“The Board of Governors performs a critical leadership role in developing and implementing FINRA’s investor-protection agenda,” said CEO Robert W. Cook. “We are fortunate to have a wide and deep range of expertise among our new and returning Governors, and I look forward to partnering with them to support FINRA’s mission.”
FINRA is overseen by a Board of Governors, the majority of whom are public. The 10 industry governors include three from large firms, one from medium-size firms, three from small firms, one floor member, one independent dealer/insurance affiliate and one investment company affiliate. 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, regulates 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, and informing and educating the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers the largest dispute resolution forum for investors and firms. For more information, please visit www.finra.org.