NASAA Statement on FINRA Leadership

WASHINGTON—The following is a statement from North American Securities Administrators Association (NASAA) President and Colorado Securities Commissioner Fred Joseph on the appointment today of Richard G. Ketchum to succeed Mary L. Schapiro as CEO of the Financial Industry Regulatory Authority (FINRA) effective March 16, 2009.

“In today’s financial climate, investors more than ever need the protections provided by state, federal and industry regulatory organizations, working in a collaborative, coordinated and cooperative manner with one another.

“NASAA members have enjoyed a collaborative relationship with Mr. Ketchum during his distinguished regulatory career at the Securities and Exchange Commission, the NASD and the New York Stock Exchange and we look forward to building on this positive relationship at FINRA as we address areas of common interest, including arbitration. State securities regulators share his commitment to investor protection and restoring investor confidence in our nation’s financial markets.”

NASAA is the oldest international organization devoted to investor protection. Its membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, the provinces and territories of Canada, and Mexico.

For more information:
Bob Webster, Director of Communications

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