Nagengast elected to fill one of three large-firm seats on FINRA Board
FINRA has announced the results of voting by its large firm members that took place at its Special Meeting on June 28 to elect one Large-Firm Governor to the FINRA Board of Governors. Jim Nagengast, Chief Executive Officer (CEO) of Securities America Financial Corporation Inc. and President of Securities America Inc., was elected as a Large-Firm Governor.
FINRA will benefit from Jim’s industry knowledge and experience as we work to advance our mission of protecting investors and ensuring the integrity of our markets,” said FINRA Chairman Bill Heyman. “We look forward to working with him.
We congratulate Jim on his election to the Board by our other large firm members,” added President and CEO Robert W. Cook. “We look forward to his insights on FINRA’s strategy, programs and operations.
Mr. Nagengast joined Securities America—an Omaha, Nebraska-based independent investment advisory and brokerage firm—in 1994, and served as Chief Financial Officer, Chief Operating Officer and President before being named CEO in 2010. He previously worked as an analyst for Merrill Lynch Capital Markets and as a consultant for Marakon Associates in Greenwich, Connecticut. Mr. Nagengast is a former member of the adjunct faculty at the University of Nebraska at Omaha.
I am excited to join the FINRA Board of Governors, and to bring to it the insights I have drawn from my experience in the industry,” commented Mr. Nagengast.
Mr. Nagengast holds an AB in economics from Harvard University, and an MBA in accounting and finance from Columbia University. He served on the Board of Directors of Heartland Family Services from 2001 to 2010—two years as Chairman—and chaired the Financial Services Institute (FSI) National Conference in 2012.
FINRA is overseen by a Board of Governors, the majority of whom are public. The 10 industry governors include three from large firms, one from medium-size firms, three from small firms, one floor member, one independent dealer/insurance affiliate and one investment company affiliate. FINRA Governors are appointed or elected to three-year terms, and may not serve more than two consecutive terms.
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry – brokerage firms doing business with the public in the United States. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees.