FINRA announces 5 new members on its Board of Governors

On Behalf of | Sep 8, 2021 | FINRA Compliance

The Financial Industry Regulatory Authority has announced the five newest members of its Board of Governors. The board, composed of 22 industry and public members, oversees management of the administration of FINRA’s affairs.

Ten of the seats on the board are designated for industry members while 12 are designated for public members. Seven of the 10 industry governor seats are comprised of three small-firm governors, one mid-size firm governor, and three large-firm governors. They are elected by the firms who represent those categories. Three open elected industry seats were filled at the Annual Meeting of FINRA Firms on September 1.

Timothy C. Scheve, who serves as President and Chief Executive Officer of Janney Montgomery Scott LLC, was re-elected to the Board of Governors as a Large Firm Governor after running unopposed. James T. Crowley, CEO of Pershing Advisor Services LLC, was elected as the board’s Mid-Size Governor. He also ran unopposed. Paige Pierce, President and Chief Executive Officer of the Bley Investment Group, was re-elected to one of the three seats as Small-Firm Governor.

In addition, two new Governors were appointed by the FINRA Board at its meeting in July. Mortimer J. “Tim” Buckley, Chairman and CEO of Vanguard, fills the FINRA Board Investment Company Affiliate Seat. Peggy Ho, Commonwealth Financial Network SVP and General Counsel, will fill the Independent Dealer/Insurance Affiliate seat.

“These five Board members bring a diverse set of leadership skills and experiences from across the securities industry,” said FINRA CEO Robert W. Cook. “Their perspectives will be invaluable in supporting our ongoing commitment to protecting the investing public.”

The FINRA Governors serve three-year terms, and the new members will begin their terms immediately. Their first FINRA Board of Governors meeting will take place on September 23-24.

Lewitas Hyman represents financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations. Contact us by phone at (888) 655 6002 or through our online contact form for a free consultation.

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