The Financial Industry Regulatory Authority (FINRA) of Washington, D.C., says that two new large-firm representatives have been elected to its board of governors, while a third new member has been appointed to its independent dealer/insurance affiliate seat.
Elected by FINRA-registered large firms are James D. Weddle, managing partner of Edward Jones and Seth Waugh, CEO of Deutsche Bank Americas and chairman of Deutsche Bank Securities, Inc., and. They replaced Robert McCann, formerly of Merrill Lynch, and Thomas Russo, formerly of Lehman Brothers, both of whom resigned their board seats in recent months.
Mark Casady, chairman and CEO of LPL Financial, has been appointed to the independent dealer/insurance affiliate seat. This position was previously held by John Simmers of ING Advisors Network who resigned his seat earlier this year.
NYSE Regulation’s Interim CEO, James F. Duffy, has assumed the seat held by Richard Ketchum before he became CEO of FINRA in March. Ketchum remains the board’s chairman.
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“All four new board members will bring valuable expertise to assist FINRA in its mission to protect investors,” says Ketchum. “We are grateful for their willingness to serve. Their knowledge, skills and accumulated wisdom will be considerable assets to the board’s deliberations and policymaking.”