FINRA Promotes Jonathan Sokobin to be Its New Govt VP

Jonathan Sokobin has been promoted to Executive Vice President and Chief Economist by FINRA.
In a press statement verified by Finance Magnates, the Financial Industry Regulatory Authority (FINRA) declared Jonathan Sokobin’s elevation to Executive Vice President, Head of Regulatory Economics and Market Analysis (REMA), and Chief Economist. Sokobin’s new position will involve him supervising FINRA’s Surveillance, Examination, and Enforcement programmes’ Regulatory Impact Assessments, Quantitative Research, Rulemaking, and Regulatory Policy Agenda. Robert Cook, the President and CEO of FINRA, will also get his reports.

The Office of the Chief Economist (OCE) and the Office of Financial Innovation (OFI) will merge into a single team consisting of approximately 40 employees in the new REMA office. The group will identify and quantify possible benefits and drawbacks to investors in addition to providing input for FINRA’s regulatory policies and initiatives.

“The decision to combine the knowledge of the Office of the Chief Economist and the Office of Financial Innovation better leverages the individual strengths of both teams to protect investors and promote market integrity,” Cook said in reference to the promotion. I have no doubt that under Jonathan’s direction, REMA will support FINRA’s regulatory policies and initiatives and further our goal, driven by his wealth of regulatory knowledge as well as his proficiency in economic and market analysis.

“I am thrilled to lead the Office of Regulatory Economics and Market Analysis and our team of outstanding professionals,” Sokobin continued. In order to help FINRA fulfil its purpose of defending market integrity and protecting investors, REMA’s work will contribute to the development of regulatory policy and operations by offering a distinct viewpoint that will help them become more flexible and efficient.”