FINRA enforcement executive director returns to private sector
The Financial Industry Regulatory Authority said Friday that its enforcement executive director will leave the organization in April to return to the private sector. James Shorris served for more than seven years in different leadership positions for FINRA's enforcement department and its predecessor, NASD. "It has been a privilege serving FINRA and NASD over the last seven years, and working with such a talented and dedicated team in the enforcement department,” Shorris said in a press release. “I am especially proud of the actions we brought over that time. And I am gratified that by bringing those actions, we were able to return many millions of dollars to aggrieved investors." FINRA is the largest nongovernmental regulator for all securities firms doing business in the U.S., according to the release. Shorris joined NASD in 2003 as deputy chief of enforcement and became chief of enforcement in 2006. He became executive director of enforcement when NASD and NYSE regulation merged to form FINRA in July 2007. Since then, Shorris has been responsible for directing the investigation and prosecution of disciplinary actions at the national and district levels. Prior to joining NASD, Shorris was counsel to the law firm of Bingham McCutchen in Boston, and held legal and compliance positions with two broker-dealers in Massachusetts. He began his legal career as an assistant district attorney in the Manhattan District Attorney's Office where he served in the trial division and the investigation division. "Jim has always been a steady, knowledgeable hand, motivating our lawyers and investigators and guiding the day-to-day operations of the enforcement program," said Richard Ketchum, FINRA chairman and CEO. "His strong management skills and deep knowledge of the industry coupled with his demonstrated commitment to protecting investors led to some of the most important enforcement cases FINRA and its predecessor NASD brought during his tenure here." Write to Shaina Zucker.