FINRA Board Elects Large Firm, Small Firm Governor Members

The Financial Industry Regulatory Authority announced the results of its election of two new members to its board of governors during the annual meeting of FINRA member firms this week.

The elected governors include:

• Bradford Eichler, chief operating officer, Stephens Inc., as large firm governor; and
• Erin Baskett, chief executive officer, Sine Qua Non Capital LLC, as small firm governor.

“Congratulations to Brad and Erin, and welcome to the FINRA board,” said Scott Curtis, FINRA’s board chair. “On behalf of the entire board, I extend my gratitude to Penny and Linde for their dedicated service as large and small firm governors, respectively. Their work strengthened FINRA’s crucial role in maintaining investor protection and market integrity.”

Eichler is the COO of Stephens, overseeing the firm’s operations and business divisions. Prior to his appointment as COO in April 2023, Eichler co-led then later led Stephens’ investment banking division, starting in 2007. He joined the firm in 1991. Eichler holds a Bachelor of Business Administration in finance from the University of Arkansas at Little Rock.

Baskett is the CEO of Sine Qua Non Capital, which provides compliance and financial operations support to assist small firms. She previously launched a number of small firms and held executive positions at various firms, including leading compliance, finance, and trading operations. Baskett holds a master’s degree in accounting from Lindenwood University and a Bachelor of Science in business with a minor in international finance from the University of Missouri-Saint Louis.

Eichler is filling the large firm governor seat vacated by Penny Pennington, while Baskett is filling the small firm governor seat vacated by Linde Murphy.

FINRA is overseen by a 22-member board, with the majority of the seats designated for public members, 10 seats designated for industry members and one seat reserved for FINRA’s CEO. The industry governor seats include three from large firms, one from mid-size firms, three from small firms, one floor member, one independent dealer/insurance affiliate and one investment company affiliate. FINRA governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.

“The strategic guidance provided by our board of governors is essential to FINRA’s success as a self-regulatory organization,” said Robert Cook, CEO of FINRA. “Congratulations to Brad and Erin. I am looking forward to working with them and the rest of the board as we further improve our effectiveness and efficiency in pursuing our mission of protecting investors, safeguarding market integrity and ensuring vibrant capital markets.”

FINRA regulates member brokerage firms doing business in the United States. Overseen by the U.S. Securities and Exchange Commission, FINRA writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities.

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