The Blog Of The Securities Industry Professional Association


A small firm seat on FINRA’s Board of Governors will be up for election soon and the petition process has begun.  The nominating committee chose to nominate W. Dennis Ferguon for the mid sized seat and some guy named Seth Waugh of Deustche Bank.  We have no idea who Seth is but we have known Dennis for many years and believe his knowledge and years of work on the board has put him in a position to have influence on the public board members.  The goal of the industry representatives on the board is forever changed.  For all intents and purposes, public members now control your fate and trying to convince them of the hardship on the members is a struggle.  We believe that Dennis has earned their respect and ear and will continue the goal of making them understand the burden that everything from PCAOB to AML puts on members.

The nominating committee for a second year has refused to nominate a small firm candidate and we once again applaud that move.  This allows the small firms to truly pick their own candidate.  As in previous years we will post on SIPA the Bio’s and petitions of the candidates as well as their campaign literature.  However we will not post abusive or attacking campaign banter on the site so if you do not see a certain candidate on the site it’s because we deemed it detrimental.  If you get tired of being inundated with campaign e-mails you can simply delete them or ignore them and come to the SIPA under “ELECTIONS” tab and read them when you please.

Enclosed are the Bio and Petitions of Dock Trease and Kevin Carreno.  I have taken some time to speak to both men and believe they are qualified to help lead the next chapter of the FINRA board.  Both have impeccable records both personally and at their firms.  Please give them your consideration and vote as you please.  We are not endorsing a particular candidate but we do know that the days of just saying “ FINRA is doing this and that “ are long gone.  We all know the problems, now we need not just the solutions but someone who can follow up on them and as we said earlier convince public board members.  Abrasive and argumentative name calling will not convince a public member of your position and its obvious that flame throwing is not working.  Best of luck to both men and if you are intending to run please feel free to submit to us your Bio and Petition

Click Here for Ken Carreno Bio                     Click Here for Docks Bio

Click Here for Ken’s Petition                           Click here for Docks Petition


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May 18th, 2012



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