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Election Notice – 10/19/21

Notice of FINRA Regional Committee Elections and Mailing of Ballots

Ballots Due: November 18, 2021

Executive Summary

The purpose of this Election Notice is to notify firms of the upcoming elections to fill vacancies on the FINRA Regional Committees, and the mailing of ballots to eligible firms.

As detailed below, the following seats are contested:

  • Midwest Region Committee, District 8 representative
  • North Region Committee, District 9 representative
  • South Region Committee, District 7 representative
  • West Region Committee, District 3 representative

Therefore, only firms that are members of FINRA in Districts 3, 7, 8 and 9 as of the close of business on Monday, October 18, 2021, are eligible to vote for the contested seats, and these will be the only firms receiving ballots.

Ballots are due by Thursday, November 18, 2021.

The candidates running for election for contested seats are listed in Attachment A. The candidates for the uncontested seats are listed in Attachment B. Additional information about all candidates is available at: https://www.finra.org/notices/RegionalElection/CandidateProfiles

Questions concerning this Election Notice may be directed to:

  • Jennifer Piorko Mitchell, Vice President and Deputy Corporate Secretary, by email or (202) 728-8949; or
  • Kayte Toczylowski, Vice President, Member Relations and Education, by email or (215) 209-7087.  

Background and Composition of Regional Committees

FINRA’s Regional Committees serve an important role in the self-regulatory process by, among other things, alerting FINRA to industry trends that could present regulatory concerns, and consulting with FINRA on proposed policies and rule changes. Regional Committee members may also serve on disciplinary panels in accordance with FINRA rules.

Each Regional Committee has six elected members from each district within that committee’s region. Regional Committees representing three districts (i.e., the South and West Regions) have 18 members, and Regional Committees representing one or two districts (i.e., New York, Midwest and North Regions) have 12 members.

The five Regional Committees and the districts each represents are:

  • Midwest Region Committee – Comprises Districts 4 and 8, representing Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin
  • New York Region Committee – Comprises District 10, representing New York (Nassau and Suffolk Counties, the Bronx, Brooklyn, New York County, Queens and Staten Island)
  • North Region Committee – Comprises Districts 9 and 11, representing Connecticut, Delaware, the District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York (except for the counties of Nassau and Suffolk, and the five boroughs of New York City), Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia
  • South Region Committee – Comprises Districts 5, 6 and 7, representing Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, Puerto Rico, Panama, South Carolina, Tennessee, Texas and the Virgin Islands
  • West Region Committee – Comprises Districts 1, 2 and 3, representing Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming and the former U.S. Trust Territories

Candidate Nomination Process and Eligibility

All individuals who submitted their names and met the qualifications set forth in Article VIII, Section 8.2 of the FINRA Regulation By-Laws were certified as a candidate for their district’s election.

Terms & Vacancies

Regional Committees for the South and West Regions each have six vacancies, and the Midwest, North and New York Regions each have four vacancies to fill. Below is a list of the vacancies and which regions/districts are contested, uncontested or have no candidates.

Midwest Region Committee – Four Vacancies:

  • District 4 – Two Representatives (uncontested)
  • District 8 – Two Representatives (contested)

New York Region Committee – Four Vacancies:

  • District 10 – Four Representatives (uncontested)

North Region Committee – Four Vacancies:

  • District 9 – Two Representatives (contested)
  • District 11 – Two Representatives (uncontested)

South Region Committee – Six Vacancies:

  • District 5 – Two Representatives (uncontested)
  • District 6 – Two Representatives (no candidates)
  • District 7 – Two Representatives (contested)

West Region Committee – Six Vacancies:

  • District 1 – Two Representatives (uncontested)
  • District 2 – Two Representatives (uncontested)
  • District 3 – Two Representatives (contested)

The full term for a Regional Committee member is three years. Therefore, whoever wins the contested seats, the individuals in the uncontested seats and the individuals appointed to fill seats with no self-nominated candidates will serve three-year terms starting on January 1, 2022, and expiring December 31, 2024.

There is no limit on the number of terms that may be served by a Regional Committee member, except that Regional Committee members may not serve more than two full terms consecutively. Terms of Regional Committee members will terminate if they do not remain eligible for the seat for which they were elected.

Mailing of Ballots

Ballots will be mailed to elect individuals to the seats for which the number of qualified candidates exceeds the number of vacancies. Districts 3, 7, 8 and 9 have contested elections; the candidates for these seats are listed in Attachment A.

Ballots will not be distributed for the uncontested elections where the candidates are running unopposed or for which no candidates self-nominated. The candidates for uncontested seats are listed in Attachment B.

Voting Eligibility

Firms in Districts 3, 7, 8 and 9 that are members of FINRA as of the close of business on Monday, October 18, 2021, are eligible to vote for candidates running for the contested seats in these districts. Ballots and a copy of this Notice have been mailed to the executive representatives of those firms eligible to vote in this election.

Voting Methods

Firms can vote by telephone, Internet or U.S. mail. Voting instructions are included in the ballots sent to eligible firms. Ballots are due on Thursday, November 18, 2021.

Firm Contact Information

Firms are reminded to accurately maintain their executive representative’s name and email address, as well as their firm’s main postal address in the FINRA Contact System (FCS). This will ensure that important mailings, such as election information, are properly directed. A firm’s failure to keep this information accurate may jeopardize the firm’s ability to participate in elections.1

To update an executive representative’s name, mailing address and email address, firms may access FCS, via the Firm Gateway, at https://gateway.finra.org/app/contacts. For assistance updating FCS, contact FINRA’s Call Center at (301) 590-6500.  

Attachment A—Candidates for Contested Seats

Information about each candidate is available at: https://www.finra.org/notices/RegionalElection/CandidateProfiles

Midwest Region Committee/District 8 (District 8: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin)

  • Travis L. Bator, Chief Compliance Officer, Harbour Investments, Inc.
  • Lonny Elfenbein, Territory Supervisory Principal, Bankers Life Securities, Inc.
  • Scott Ironside, Director of Operational & Regulatory Related Risk, Robert W. Baird & Co. Incorporated
  • Willson Rasavongxay, Chief Compliance Officer, William Blair

North Region Committee/District 9 (District 9: Delaware, the District of Columbia, Maryland, New Jersey and New York (except for the counties of Nassau and Suffolk, and the five boroughs of New York City), Pennsylvania, Virginia and West Virginia)

  • Jason Albino, Chief Compliance Officer, Grove Point Investments, LLC
  • Jason Gerb, Chief Compliance Officer, Royal Alliance Associates, Inc.
  • Dan Logue, Counsel, Chief Compliance Officer & AMLCO, Muriel Siebert & Co., Inc.
  • Francis Skinner, Chief Legal Officer, Coastal Equities, Inc.
  • Douglas A. Wright, Chief Compliance Officer, The Investment Center, Inc.

South Region Committee/District 7 (District 7: Florida, Georgia, North Carolina, Puerto Rico, Panama, South Carolina and the Virgin Islands)

  • Nikki Brinkerhoff, Chief Compliance Officer, TradeStation Securities, Inc.
  • Jim R. Webb, Chief Executive Officer, American Global Wealth Management, Inc.
  • Daniel Woodring, EVP / Chief Compliance Officer, PFS Investments Inc.

West Region Committee/District 3 (District 3: Alaska, Arizona, Colorado, Idaho, Montana, New Mexico, Oregon, Utah, Washington and Wyoming)

  • Brad Anderson, Chief Compliance Officer, DFPG Investments, LLC
  • Katrina Santa Maria, Chief Executive Officer, M.S. Howells & Co.
  • Joseph Terry, Chief Compliance Officer, CCO Capital, LLC

Attachment B—Candidates for Uncontested Seats

Information about each candidate is available at: https://www.finra.org/notices/RegionalElection/CandidateProfiles  

Midwest Region Committee/District 4 (District 4: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota)

  • Mason A. Burnham, Divisional Supervisory Manager/ SVP/ FiNet Sales Supervision, Wells Fargo Advisors Financial Network, LLC
  • Kim Chapman, Chief Compliance Officer, Berthel, Fisher & Company Financial Services, Inc.

New York Region Committee/District 10 (District 10: New York (Nassau and Suffolk Counties, Bronx, Brooklyn, New York County, Queens and Staten Island)

  • Damon B. Joyner, Chief Financial Officer, American Portfolios Financial Services, Inc.
  • Chad Kirschenblatt, Financial and Operational Principal, LSH Partners Securities LLC
  • John Parmigiani, Chief Executive Officer, Allied Millennial Partners, LLC
  • Anthony Savarese, Head of Compliance, XTX Execution Services LLC

North Region Committee/District 11 (District 11: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont)

  • Lisa Clifford, Chief Compliance Officer, Tritower Real Estate Capital, LLC

South Region Committee/District 5 (District 5: Alabama, Arkansas, Louisiana, Mississippi, Oklahoma and Tennessee)

  • Sid Banks, Branch Manager, St. Bernard Financial Services, Inc.
  • Kurt Sims, Compliance Specialist, Arvest Wealth Management

South Region Committee/District 6 (District 6: Texas)

  • No Candidates

West Region Committee/District 1 (District 1: Northern California (the counties of Monterey, San Benito, Fresno and Inyo, and the remainder of the state north or west of such counties), northern Nevada (the counties of Esmeralda and Nye), and the remainder of the state north or west of such counties) and Hawaii)

  • Dennis McCarron, Sr. Director Compliance - Chief Compliance Officer, SVB Wealth Advisory, Inc.

West Region Committee/District 2 (District 2: Southern California (that part of the state south or east of the counties of Monterey, San Benito, Fresno and Inyo), southern Nevada (that part of the state south or east of the counties of Esmeralda and Nye) and the former U.S. Trust Territories)

  • Ken Muraoka, SVP, Head of Compliance Shared Services, Cetera Advisor Networks LLC

Endnotes


1 Pursuant to FINRA Rule 4517 (Member Filing and Contact Information Requirements), firms must update their contact information promptly, but in any event not later than 30 days following any change in such information, as well as review and, if necessary, update the information within 17 business days after the end of each calendar year. Additionally, firms must comply with any FINRA request for such information promptly, but in any event not later than 15 days following the request, or such longer period that may be agreed to by FINRA staff. See FINRA Rule 4517 and Regulatory Notice 07-42 (SEC Approves NASD Rule 1160 Regarding Firm Contact Information).