Chris Flint has received a Massive Corporations seat on the FINRA Board of Governors, the regulatory company introduced on Monday. The victory comes a number of weeks after Flint, the President and CEO of the Birmingham, Ala.-based RIA and dealer/vendor agency ProEquities, introduced his candidacy for the seat. FINRA small agency members elected Linde Murphy, the Chief Compliance Officer, M.E. Allison & Co., as a consultant on the board for small companies. Flint might be one among three representatives for big companies on the 24-member board.
“Our new Board members deliver with them a broad array of backgrounds and experiences,” FINRA CEO Robert Prepare dinner mentioned. “Their various views might be a worthwhile contribution to our ongoing dedication to defending traders and making certain vibrant markets.”
In an interview shortly after asserting his candidacy, Flint instructed WealthManangement.com that he hoped to extend FINRA board illustration of companies who straight provide monetary recommendation to purchasers, along with his platform specifying that he hoped to finish rulemaking by enforcement, arguing companies had problem working when penalized for actions dedicated previous to modified guidelines. A proponent of SEC’s Regulation Finest Curiosity, he additionally mentioned the board would play a pivotal position in figuring out how FINRA member companies ought to act regarding the rule, which fits into impact subsequent June.
“If you look throughout the general public governors and also you look throughout the business governors, there must be a stronger weighting towards board members with an array of experiences that may extra broadly characterize the range of companies that make up the big agency members,” Flint mentioned.
Flint was endorsed by the Financial institution Insurance coverage & Securities Affiliation (BISA), the primary time the affiliation has endorsed a FINRA board candidate. He was additionally endorsed by the Monetary Companies Institute, and has served on FSI’s Board of Administrators since January. FSI President and CEO Dale Brown lauded Flint’s win, noting his victory was the most recent in a sequence of profitable endorsements of FINRA board candidates by the institute.
“Considered one of our prime objectives is to make the worth of the impartial mannequin to traders higher understood by all stakeholders,” Brown mentioned. “Having now helped our third petition candidate safe a FINRA Board seat within the final 4 years, we’re extra assured than ever that robust progress is being made in direction of this purpose.”