Thursday, February 26, 2009

Richard G. Ketchum Named FINRA's CEO

Following Mary Schapiro's departure to become Chairman of the SEC, Richard (Rick) G. Ketcham, currently CEO of the New York Stock Exchange and Chairman of FINRA's Board of Governors, has been appointed as FINRA's new Chief Executive Officer. Ketcham has nearly thirty years of experience in the securities industry, having spent twelve years at NASD and The Nasdaq Stock Market, Inc., and fourteen years at the SEC, eight of which he served as Director of the Division of Market Regulation. Ketcham will take the lead at FINRA effective March 16.

Acknowledging the challenging times ahead, Ketcham remarked:

Restoring confidence among investors in our financial markets and in our regulatory system has never been more urgent.

Protecting investors is FINRA's singular mission. As head of FINRA, I will leverage our staff and expertise in the fight against fraud and manipulation in the marketplace," he continued. "FINRA's enforcement and examination divisions will have the tools and support required to track down and punish any broker, or any firm, who harms investors. We will not rest until investors once again feel confident placing their money in a marketplace they can trust.

At the same time as the announcement of Ketcham's appointment, FINRA also announced that FINRA's interim CEO, Stephen Luparello, will become Vice Chairman and will continue to oversee FINRA's regulatory operations.

The full text of FINRA's announcement is available at: