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Regulation and Compliance > Federal Regulation > FINRA

FINRA Hires Senior Advisor to CEO Cook

By Melanie Waddell

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The Financial Industry Regulatory Authority recently appointed Nathaniel Stankard as senior advisor to the self-regulator’s CEO, Robert Cook, to spearhead special projects, including FINRA’s strategic review of its operations.

Stankard starts his new position immediately and will provide counsel and strategic advice to Cook and FINRA’s senior management.

Cook noted Stankard’s “broad experience working on critical policy issues.” He previously served as deputy chief of staff for policy at the Securities and Exchange Commission, as an executive director for Morgan Stanley and as an associate at the law firm of Cleary Gottlieb Steen & Hamilton LLP.

“Nathaniel’s deep background across both the public and private sectors makes him an outstanding addition to the FINRA team as we undertake a strategic review of our operations,” Cook said.

Cook said in late January that FINRA would be seeking comment from broker-dealers on changes that need to be made to the self-regulator’s engagement and transparency policies, including how it crafts rules.

Comments are due, for instance, by March 27 on FINRA’s proposed amendments to FINRA Rule 2210 (Communications with the Public), which sets limits on predicting or projecting investment performance.

The proposed amendments would create an exception to the rule’s prohibition on projecting performance to permit a firm to distribute a customized hypothetical investment planning illustration that includes the projected performance of an asset allocation or other investment strategy, but not an individual security, subject to specified conditions, according to FINRA’s Regulatory Notice 17-06.

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