GUEST Blog: FINRA and Another Nail by Stephen Kohn, Candidate for FINRA 2022 Small Firm Governor

July 21, 2022

A Personal Message From Stephen Kohn, 
Candidate for FINRA 2022 Small Firm Governor 

FINRA and Another Nail . . .

I've been accused of being Quixotic in my efforts to foster a level of regulatory equality among all FINRA Small, Medium, and Large Firms. Some say that I'm tilting at Wall Street windmills. Perhaps so, but if no one but me fights this fight, the days of small broker-dealers are numbered. 

We CAN make things change . . . I'll be your voice at the FINRA Board of Governors. I will yell and scream if I have to; but I need your vote in order to give voice to your needs and concerns. If you've been hesitant to fight for the preservation of your FINRA Small Firm, now is the time to get involved: before it's too late.  

In addition to seeking your vote, I want to offer you an opportunity to join and meet like-minded small firm executives and show FINRA that we are not a rag-tag group of greedy opportunists but a group of members that really care about the well-being of our clients, the investing public. To that end, a group of small firms has created a Coalition and we want you to join. Among the goals of the FINRA Small Firm Coalition will be to identify qualified and committed candidates for future Small Firm Governors and to ensure their election to the Board. 

You all know the issues: 
  • PCAOB 
  • REG BI 
  • Transparency 
  • Rising Fees 
  • Proctological Exams disguised as "Cycle Exams"
  • Unlicensed Examiners