08.21.19
Upset in FINRA Board Large Seat Election
by: John Manganaro
Chris Flint, president and CEO of ProEquities Inc., defeated incumbent Andrew Duff, former board chair at Piper Jaffray & Co. for a large-firm seat on the board of the Financial Industry Regulatory Authority Inc. (FINRA). Flint had been endorsed by the Bank Insurance Securities Association in his first run for office. A former president of Lincoln Financial Services who also currently serves as senior vice president for distribution companies for Protective Life Insurance Co., Flint said that FINRA needs more input from large firms that provide financial advice and investment products. Flint’s message of bringing a “retail-oriented voice” to the FINRA Board in the end prevailed among voting firms. Flint has emphasized the importance of collaboration with the Securities and Exchange Commission during the rollout of the newly finalized Regulation Best Interest. He has also suggested he will push for “less regulation through enforcement,” based on the argument that one-off enforcement actions are not the best way to approach the transformational changes that some parties may feel are needed within financial services. Related Story: InvestmentNews
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