The Financial Industry Regulatory Authority, the self-regulatory arm of the U.S. brokerage industry regulator, said Friday that one of its top enforcement officers is resigning to join a law firm. James Shorris has been responsible for directing FINRA's investigations and prosecution activity for much of the past seven years. He served `s FINRA's interim head of enforcement after his former boss, Susan Merrill, quit in March 2010 to join the Bingham McCutchen law firm in New York.
Shorris was passed over for the top job in October when FINRA hired Bradley Bennett from law firm Baker Botts to run its enforcement division.
Shorris joined the National Association of Securities Dealers, Finra's predecessor, in 2003 as deputy enforcement chief. He advanced to the top position in 2006, but ceded the post to Merrill after the NASD merged with much of the New York Stock Exchange's regulation unit. Merrill was head of enforcement at NYSE Regulation. Shorris was a lawyer at Bingham McCutchen LLP in Boston prior to joining the NASD. Source: Reuters.com