ProEquities CEO Wins FINRA Large Firms Board Seat
Chris Flint, the president and CEO of ProEquities, has won the large firms seat in this year’s FINRA board of governors’ election over incumbent Andrew Duff, the chairman and CEO of Piper Jaffray.
Chris Flint, the president and CEO of ProEquities, has won the large firms seat in this year’s FINRA board of governors’ election over incumbent Andrew Duff, the chairman and CEO of Piper Jaffray. ProEquities is an independent financial advisory and brokerage firm and subsidiary of Protective Life Corporation.
Flint was endorsed by two industry trade groups, the Financial Services Institute and the Bank Insurance & Securities Association.
“I’m honored by the support of FINRA’s voting members and grateful to both FSI and BISA for their respective endorsements of my candidacy. As I commence my new term on FINRA’s board of governors, I will focus on bringing a fresh perspective and new ideas about how our industry and FINRA can work together to strengthen the future of financial advice,” said Flint.
He added, “I’m excited to represent the views of all FINRA member firms, while advocating for the key issues that I emphasized throughout my candidacy, such as ending rulemaking by enforcement and helping to create a level regulatory playing field between the broker-dealer and RIA sectors.”
In addition, Linde Murphy, chief compliance officer of M.E. Allison & Co. Inc., won as one of three small firm representatives on the board of governors, beating Robert Muh, CEO of San Francisco-based Sutter Securities.
In addition, two new public governors, who were nominated by the FINRA nominating committee and approved by the full board, include Camille Busette, director of the race, prosperity, and inclusion initiative and senior fellow in governance studies at the Brookings Institution; and Ethiopis Tafara, vice president and general counsel of legal, compliance risk and sustainability at the International Finance Corporation (part of the World Bank Group).
All four new governors begin their three-year terms on FINRA’s board effective immediately.
“Our new board members bring with them a broad array of backgrounds and experiences,” said FINRA CEO Robert Cook. “Their diverse perspectives will be a valuable contribution to our ongoing commitment to protecting investors and ensuring vibrant markets.”
FINRA is overseen by a 24-member board of governors, the majority of whom are public members. The 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 governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.
FINRA is a not-for-profit organization that regulates brokerage firms doing business with the public in the United States. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs 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 a dispute resolution forum for investors and brokerage firms and their registered employees.
