The SIPA

Board Elections here again. The recent completion of the final season of Game of Thrones has left a void for many fans that still have many questions that are unanswered.  FINRA however has come to the rescue to fill this void just in the nick of time with their annual elections for the board of […]

We hope that FINRA's attempt in all this is to allow a truly fair and open system rather then trying to dilute the vote among small firm candidates while counting on their pet trade organizations to support a single candidate of their choosing. Even if that's the case it will still be the voice of the small firm and this is what we have been fighting years for The SIPA intends to sit this election out and allow the members to decide for themselves who should speak for them.

The recent FINRA Board election was nothing less then astounding considering the fact that the SIPA members faced not only strong challenges by well known FINRA nominees but by habitual board candidates that appeared to try and dilute the dissident vote as a favor for FINRA. Much to our surprise though, the members and supporters came out in droves and quite frankly the margin of victory was nothing short of astonishing.

One would think that in light of the financial meltdown as well as the Financial Reform being proposed by Congress that FINRA would seek to reform or maybe even change its current Board and get new blood in the system…But no, not FINRA. FINRA re nominated the existing Head Governor as well as numerous other existing board members to new terms. This makes sense only if there is a bigger picture which fools like me often overlook.