This item was penned by Ann Sebert, CEO
This month I was elected FINRA’s Representative Candidate for District 6, headquartered in Dallas. It’s been a winding road to get to this point, where I will have the responsibility of advising FINRA on industry trends and relaying relevant regulatory developments to District 6’s members.
The first direct experiences I had with FINRA were 15 years ago when I began supervising CAPIS’ accounting as the firm’s controller. I did not think that come 2021 I would be in a position to advocate for the right regulatory frameworks for markets and give voice to issues impacting CAPIS. I just thought there’d be more examinations. (And on that front, I was right.)
My time with FINRA will begin in January and I already know of a few things that will occupy my time. The Consolidated Audit Trail is in the midst of complex implementation and debugging. A new administration can, and inevitably does, revisit hotly debated proposals. Rule 606 is not without its issues. European regulators are examining the impact of MiFID II’s research provisions, a topic that impacts the American operations of global asset managers and the whole of commission management, a key area of CAPIS’ operations.
I will be keenly tuned to how all of these issues manifest.
CAPIS has built a respected, agency brokerage business around a compliance-driven mindset and we strive to be transparent while making interactions with markets as smooth an experience as possible. My advocacy for proper regulations will have the same focus: removing undue market frictions and improving transparency. For questions or to learn more about CAPIS, please reach out to [email protected] and follow us on Twitter (@capisinc) and LinkedIn for more updates and insight from our team.