LPL Financial Snares a Top FINRA Official

James Shorris, a former big gun with the Financial Industry Regulatory Authority (FINRA) who resigned in April 2011, has decided to join LPL Financial LLC, according to Investment News. LPL Financial has some 12,000 representatives and is the largest independent broker-dealer in the United States. Many of the LPL branch offices are manned by only a couple of representatives.

Obviously, Mr. Shorris is going to be invaluable to LPL in dealing with the U.S. Securities and Exchange Commission (SEC) and FINRA, because of his experience as the head of enforcement at FINRA where he regulated securities firms and conducted investigations into their dealings with public customers. According to the article, he will help LPL Financial with its "government relations strategy and efforts on Capitol Hill."

As the new Executive Vice President, his home base is going to be Boston, Massachusetts, where he will be working with Stephanie Brown, General Counsel, and John McDermott, Chief Risk Officer, on regulatory and compliance policies for LPL Financial.

Contact Us
Free Consultation: (800) 259-9010