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FINRA Election Notice: Upcoming Board of Governors Election

May 27, 2019

by Howard Haykin


At this year’s annual meeting of FINRA firms, to be held on or about Monday, August 19, member firms will elect one Large Firm Governor and one Small Firm Governor to the FINRA Board of Governors. A copy of this Notice was distributed electronically to the executive representative of each FINRA firm.


FINRA’s Nominating Committee has nominated the following individuals for the vacancies:
  • Large Firm Governor Candidate:  Andrew Duff, Board of Directors, Piper Jaffray
  • Small Firm Governor Candidate:  Robert Muh, CEO, Sutter Securities



PETITION PROCESS FOR ADDITIONAL CANDIDATES.    A person who has not been nominated by the Nominating Committee for election to the FINRA Board may be included on the ballot for the election of governors if:


  • within 45 days after the date of this Election Notice (July 8, 2019), such person presents to FINRA’s Corporate Secretary petitions in support of his or her nomination, duly executed by at least 3 percent of FINRA member firms entitled to vote for such nominee’s election. If, however, a candidate’s name appears on a petition in support of more than one nominee, the petition must be endorsed by 10% of FINRA member firms entitled to vote for such nominees’ election; and.
  • the Corporate Secretary certifies that such petitions have been duly executed by the executive representatives of the requisite number of FINRA member firms entitled to vote for such person’s election, and the person being nominated satisfies the classification of the governorship to be filled.



TERM OF OFFICE.    Governors elected at FINRA’s 2019 annual meeting will serve a 3-year term concluding at FINRA’s 2022 annual meeting, or until his or her successor is duly elected or qualified, or until death, resignation, disqualification or removal.


The FINRA Board consists of 24 members,1 including:

  • Chief Executive Officer of FINRA;
  • 13 Public Governors;
  • 1 Floor Member Governor;
  • 1 Independent Dealer/Insurance Affiliate Governor;
  • 1 Investment Company Affiliate Governor;
  • 3 Small Firm Governors;
  • 1 Mid-Size Firm Governor; and
  • 3 Large Firm Governors.



[For further details, click link below.]