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FINRA Board of Governors Appointment

June 06, 2023

Professor Lisa Fairfax
Professor Lisa Fairfax

Prof. Lisa Fairfax has been appointed to Financial Industry Regulatory Authority (FINRA) Board of Governors.

The Financial Industry Regulatory Authority (FINRA) recently appointed Lisa Fairfax, Presidential Professor and Co-Director of the Institute for Law and Economics, as one of 11 public governors on its Board of Governors.

“I care deeply about the health and safety of our financial markets and helping to ensure that we all have the ability to access the financial services we need to promote our financial wellbeing and guard against financial uncertainties,” Fairfax said.

“FINRA’s mission of investor protection and market integrity advances these ideals, and I am very excited and honored to join FINRA’s Board of Governors and play a role in support of such an important endeavor.”

Founded in 2007, the not-for-profit organization is authorized by Congress to regulate every broker and brokerage firm doing business with the U.S. public. Members of FINRA’s Board of Governors serve three-year terms and oversee FINRA’s administration to ensure it achieves its regulatory objectives.

“Lisa’s long history of leadership combined with her deep expertise in securities law and familiarity with FINRA will make her an effective voice for investors and an ideal fit for our Board,” said FINRA CEO Robert Cook. “I look forward to working closely with Lisa as we continue our mission of protecting investors and promoting market integrity.”

A prolific and acclaimed scholar, Fairfax’s research focuses on corporate and board governance, board fiduciary duties, board-shareholder engagement, board composition and diversity, shareholder activism, affinity fraud, and securities fraud. Her book, Shareholder Democracy: A Primer on Shareholder Activism and Participation, is a seminal work on shareholder activism.

Previously, Fairfax was a member of FINRA’s National Adjudicatory Council, where she served as chair of its subcommittee on waivers, and FINRA’s NASDAQ Market Regulation Committee. Fairfax has also served as a member of the Investor Advisory Committee of the Securities and Exchange Commission (SEC) and is a former chair of both the Securities Regulation Section and the Business Associations Section of AALS.

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