Steps into the ongoing Instinet enforcement matter...
FINRA announced today that it has appointed Bill St. Louis as Head of Enforcement, effective immediately. St. Louis, an Executive Vice President, was most recently head of FINRA’s National Cause and Financial Crimes Detection Program (NCFC). St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.
“Bill’s broad and deep experience at FINRA, including his previous senior roles in Enforcement and Member Supervision, and his most recent position as head of the NCFC, will serve him well as Head of Enforcement. I am confident he will bring exemplary leadership, expertise and vision to bear in his new role supporting the Enforcement department’s contributions to FINRA’s mission of investor protection and market integrity,” said Cook.
“It is a privilege to lead such a talented and expert group of Enforcement professionals who are dedicated to FINRA’s mission of investor protection and market integrity,” said St. Louis. “I look forward to strengthening FINRA’s Regulatory Operations, ensuring integrated oversight and increasing safety in the market as we advance our important work through the regulatory opportunities and challenges ahead.”
St. Louis joined FINRA in 1998, initially holding several positions in the Enforcement department, including serving as Regional Chief Counsel for FINRA’s North Region. He also served as Director of FINRA’s New York Office from 2014 to 2019 as well as Senior Vice President and Regional Director of FINRA’s Northeast Region from 2019 to 2020. Most recently, St. Louis oversaw the NCFC team comprised of the National Cause Program, Financial Crimes Surveillance, the Financial Intelligence Unit and specialized investigative units covering anti-money laundering and fraud, cybersecurity, high-risk representatives, and vulnerable adults and seniors.
St. Louis holds a Juris Doctorate from New York University Law School and an undergraduate degree from Baruch College.
Christopher J. Kelly, Senior Vice President and Deputy Head of Enforcement, served as Acting Head of Enforcement since February 2023, when Jessica Hopper departed FINRA.
”I thank Chris Kelly for leading FINRA Enforcement through this transition period as well as for his commitment and contributions to the overall success of our regulatory program,” said Cook.
REMINDER: This is not complete yet as St. Louis steps into the role:
Instinet had $50B of $67B waived in Excess Capital Premiums Waived over a 2 Year Period. Instinet also received a massive waiver on January 28, 2021. FINRA: "Instinet experienced late reporting issues in connection with at least 26 billion events from November 2020 through December 2022"
- FINRA Names Bill St. Louis as New Head of Enforcement.
- St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.
- Steps into the ongoing Instinet enforcement matter...