FINRA chairmen to retire in 2016
02 November 2015 New York
Image: Shutterstock
The Financial Industry Regulatory Authority’s (FINRA) chairman and CEO Rick Ketchum is retiring in the second half 2016.
The board of governors will begin the process of finding a successor and are looking for applications from both inside and outside the organisation.
Ketchum took the helm at FINRA in 2009 and was previously CEO of New York Stock Exchange regulation.
“I’m proud of FINRA’s achievements over the past six years,” said Ketchum.
“We have been at the forefront of investor protection in our aggressive efforts to help enforce the rules that are so crucial to fair financial markets. Our accomplishments are founded on a commitment to excellence in our core competencies: examinations, enforcement, rulemaking, market transparency and market surveillance.”
“Investor protection is our principal reason for being, and I have been honoured to work with an incredibly dedicated and talented group of professionals who take this vital mission seriously. FINRA is well-placed to continue to play an important role in educating and protecting investors in the years ahead.”
The Securities and Exchange Commission’s (SEC) chair Mary Jo White also responded to the announcement, stating: “Rick Ketchum is rightly recognised as a strong regulator who combines brilliance with a deep knowledge of our markets.”
“He ably served at the SEC for 14 years, with eight of those years as director of the division of market regulation. More recently, he continues to serve as a member of the SEC’s market structure advisory committee and previously served as a member of our joint economic committee for emerging regulatory issues.”
The board of governors will begin the process of finding a successor and are looking for applications from both inside and outside the organisation.
Ketchum took the helm at FINRA in 2009 and was previously CEO of New York Stock Exchange regulation.
“I’m proud of FINRA’s achievements over the past six years,” said Ketchum.
“We have been at the forefront of investor protection in our aggressive efforts to help enforce the rules that are so crucial to fair financial markets. Our accomplishments are founded on a commitment to excellence in our core competencies: examinations, enforcement, rulemaking, market transparency and market surveillance.”
“Investor protection is our principal reason for being, and I have been honoured to work with an incredibly dedicated and talented group of professionals who take this vital mission seriously. FINRA is well-placed to continue to play an important role in educating and protecting investors in the years ahead.”
The Securities and Exchange Commission’s (SEC) chair Mary Jo White also responded to the announcement, stating: “Rick Ketchum is rightly recognised as a strong regulator who combines brilliance with a deep knowledge of our markets.”
“He ably served at the SEC for 14 years, with eight of those years as director of the division of market regulation. More recently, he continues to serve as a member of the SEC’s market structure advisory committee and previously served as a member of our joint economic committee for emerging regulatory issues.”
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