Jon Kroeper, EVP-Quality of Markets, to Depart FINRA

Jon Kroeper, Executive Vice President, Quality of Markets, is leaving FINRA, effective at year end, to pursue other opportunities.

Kroeper joined FINRA in 2007 and has been responsible for the management of the equity and fixed income automated surveillance and investigatory program, including data integrity, market conduct, customer protection and market manipulation-related activity.

“We thank Jon for his leadership of the Quality of Markets program through its exceptional achievements, growing and adapting to advance our mission of protecting investors and promoting market integrity,” said Stephanie Dumont, Executive Vice President, Market Regulation and Transparency Services. “We wish Jon success in all his future endeavors.”

The Quality of Markets team’s initiatives during Kroeper’s tenure include:

• Implementing the first fully cross-market equity surveillance program, covering all U.S. equity market activity, including that of all 16 equity exchanges and the over-the-counter market;
• Developing the Rapid Remediation process, an innovative means of interacting with firms to quickly resolve market integrity and market conduct issues;
• Expanding FINRA’s fixed income surveillance program to cover agency debentures, securitized products, and U.S. Treasury securities;
• Providing regulatory feedback and support to the industry to help bolster compliance to regularly achieve compliance rates of more than 99 percent in equity and fixed income regulatory reporting;
• Conducting investigations leading to the first layering manipulation action and the first supervisory controls action against a high-frequency trading firm.

“It has truly been an honor and privilege to be part of FINRA’s market surveillance leadership team for the last 16 years, working with our partners in FINRA Technology and other regulatory departments to build a world-class program and further FINRA’s mission,” said Kroeper. “Most of all, I thank the Quality of Markets team for their hard work, dedication and support. As the department moves into a new structure to continue meeting our regulatory mandate, I thought that this was a good time to move on to a new challenge.”

About FINRA

FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry—brokerage firms doing business with the public in the United States. FINRA, overseen by the SEC, 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. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.

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