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Nonprofiteer
← FINANCIAL INDUSTRY REGULATORY AUTHORITY INC

Form 990 for tax year 2024

Filed by FINANCIAL INDUSTRY REGULATORY AUTHORITY INC.

Totals

Total revenue
$2,607,503,080
Total expenses
$3,040,929,806
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,757,021,912
Investment income
$84,666,072
Other revenue
$765,815,096
Total assets, end of year
$3,101,319,446
Total liabilities, end of year
$1,344,019,165
Net assets or fund balances, end of year
$1,757,300,281
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

Listed in Part VII

  • Robert W Cook

    President & CEO

    Total calculated
    $4,102,800
    From this org
    $3,472,973
    From related orgs
    $0
    Other
    $629,827
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,074,593
    Bonus
    $2,365,000
    Other
    $33,380
    Deferred
    $622,548
    Nontaxable benefits
    $7,279
    Filer's total
    $4,102,800

  • Camille M Busette

    Board Member

    Total calculated
    $116,106
    From this org
    $116,106
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Cyrus Amir-Mokri

    BOARD MEMBER - as of 9/13/24

    Total calculated
    $630
    From this org
    $630
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • DEBORAH BAILEY

    BOARD MEMBER

    Total calculated
    $100,000
    From this org
    $100,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • DERRICK ROMAN

    BOARD MEMBER

    Total calculated
    $109,253
    From this org
    $109,253
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • ERIC SCHIMPF

    BOARD MEMBER - AS OF 9/17/24

    Total calculated
    $0
    Hours/week
    2

  • Eric W Noll

    CHAIRPERSON

    Total calculated
    $175,505
    From this org
    $175,505
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

    Schedule J breakdown matched by us

    Base
    $175,505
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $175,505

  • ERIK SIRRI

    BOARD MEMBER - AS OF 11/8/24

    Total calculated
    $25,110
    From this org
    $25,110
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ethiopis Tafara

    Board Member

    Total calculated
    $958
    From this org
    $958
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Fabiola Arredondo

    BOARD MEMBER

    Total calculated
    $101,003
    From this org
    $101,003
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Gus Sauter

    BOARD MEMBER

    Total calculated
    $106,111
    From this org
    $106,111
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • JAMES T CROWLEY

    BOARD MEMBER

    Total calculated
    $737
    From this org
    $737
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • JENNIFER SZARO

    BOARD MEMBER - AS OF 9/11/24

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John B Ehnes

    Board Member - thru 9/11/24

    Total calculated
    $85,738
    From this org
    $85,738
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • JOHN VACCARO

    BOARD MEMBER - as of 9/11/24

    Total calculated
    $50,110
    From this org
    $50,110
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lance F Drummond

    Board Member - thru 9/11/24

    Total calculated
    $95,271
    From this org
    $95,271
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Linde Murphy

    Board Member

    Total calculated
    $101,017
    From this org
    $101,017
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lisa Fairfax

    BOARD MEMBER - thru 4/5/24

    Total calculated
    $50,220
    From this org
    $50,220
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Maureen Jensen

    Board Member

    Total calculated
    $118,608
    From this org
    $118,608
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • MOIRA A KILCOYNE

    BOARD MEMBER

    Total calculated
    $100,475
    From this org
    $100,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • MORTIMER J BUCKLEY

    BOARD MEMBER - thru 7/8/24

    Total calculated
    $0
    Hours/week
    2

  • Naureen Hassan

    BOARD MEMBER - THRU 9/11/24

    Total calculated
    $0
    Hours/week
    2

  • Paige W Pierce

    Board Member - thru 9/11/24

    Total calculated
    $76,912
    From this org
    $76,912
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • PEGGY HO

    BOARD MEMBER

    Total calculated
    $101,468
    From this org
    $101,468
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • PENNY PENNINGTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SAMIR M DESHPANDE

    BOARD MEMBER

    Total calculated
    $103,292
    From this org
    $103,292
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Scott Curtis

    BOARD MEMBER

    Total calculated
    $105,011
    From this org
    $105,011
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Timothy C Scheve

    Board Member - thru 9/11/24

    Total calculated
    $89,198
    From this org
    $89,198
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Wendy Lanton

    Board Member

    Total calculated
    $103,964
    From this org
    $103,964
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Marcia E Asquith

    EVP Board & External relations

    Total calculated
    $1,134,908
    From this org
    $994,058
    From related orgs
    $0
    Other
    $140,850
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $423,784
    Bonus
    $540,000
    Other
    $30,274
    Deferred
    $102,989
    Nontaxable benefits
    $37,861
    Filer's total
    $1,134,908

  • Todd T Diganci

    Executive Vice President & CFAO

    Total calculated
    $2,370,508
    From this org
    $1,739,416
    From related orgs
    $0
    Other
    $631,092
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $683,032
    Bonus
    $860,000
    Other
    $196,384
    Deferred
    $619,648
    Nontaxable benefits
    $11,444
    Filer's total
    $2,370,508

  • Gregory Ruppert

    Executive Vice President

    Total calculated
    $1,681,769
    From this org
    $1,467,716
    From related orgs
    $0
    Other
    $214,053
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $509,939
    Bonus
    $600,000
    Other
    $357,777
    Deferred
    $164,857
    Nontaxable benefits
    $49,196
    Filer's total
    $1,681,769

  • Jonathan S Sokobin

    Executive Vice President

    Total calculated
    $1,132,530
    From this org
    $1,024,187
    From related orgs
    $0
    Other
    $108,343
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $383,262
    Bonus
    $430,000
    Other
    $210,925
    Deferred
    $44,850
    Nontaxable benefits
    $63,493
    Filer's total
    $1,132,530

  • Nathaniel Stankard

    Executive Vice President

    Total calculated
    $1,268,358
    From this org
    $1,182,738
    From related orgs
    $0
    Other
    $85,620
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $405,486
    Bonus
    $470,000
    Other
    $307,252
    Deferred
    $37,950
    Nontaxable benefits
    $47,670
    Filer's total
    $1,268,358

  • Rainia L Washington

    Executive Vice President

    Total calculated
    $1,194,677
    From this org
    $996,061
    From related orgs
    $0
    Other
    $198,616
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $419,822
    Bonus
    $550,000
    Other
    $26,239
    Deferred
    $147,789
    Nontaxable benefits
    $50,827
    Filer's total
    $1,194,677

  • Robert L D Colby

    EVP And Chief Legal Officer

    Total calculated
    $1,524,356
    From this org
    $1,461,686
    From related orgs
    $0
    Other
    $62,670
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $564,366
    Bonus
    $725,000
    Other
    $172,320
    Deferred
    $46,505
    Nontaxable benefits
    $16,165
    Filer's total
    $1,524,356

  • Stephanie Dumont

    Executive Vice President

    Total calculated
    $1,265,880
    From this org
    $1,109,862
    From related orgs
    $0
    Other
    $156,018
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $499,268
    Bonus
    $605,000
    Other
    $5,594
    Deferred
    $117,607
    Nontaxable benefits
    $38,411
    Filer's total
    $1,265,880

  • Steven J Randich

    Executive Vice President & CIO

    Total calculated
    $2,300,340
    From this org
    $1,963,213
    From related orgs
    $0
    Other
    $337,127
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $630,521
    Bonus
    $830,000
    Other
    $502,692
    Deferred
    $296,000
    Nontaxable benefits
    $41,127
    Filer's total
    $2,300,340

  • William St Louis

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $1,103,853
    From this org
    $930,024
    From related orgs
    $0
    Other
    $173,829
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $448,293
    Bonus
    $455,000
    Other
    $26,731
    Deferred
    $108,486
    Nontaxable benefits
    $65,343
    Filer's total
    $1,103,853

  • Gene G Demaio

    Senior Vice President

    Total calculated
    $1,069,035
    From this org
    $1,007,808
    From related orgs
    $0
    Other
    $61,227
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $384,450
    Bonus
    $358,750
    Other
    $264,608
    Deferred
    $12,219
    Nontaxable benefits
    $49,008
    Filer's total
    $1,069,035

  • Jeffrey Kalinowski

    SENIOR VICE PRESIDENT

    Total calculated
    $992,136
    From this org
    $927,907
    From related orgs
    $0
    Other
    $64,229
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $381,685
    Bonus
    $265,000
    Other
    $281,222
    Deferred
    $60,867
    Nontaxable benefits
    $3,362
    Filer's total
    $992,136

  • Omer Meisel

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $1,002,360
    From this org
    $953,619
    From related orgs
    $0
    Other
    $48,741
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $390,538
    Bonus
    $350,000
    Other
    $213,081
    Deferred
    $44,850
    Nontaxable benefits
    $3,891
    Filer's total
    $1,002,360

  • Richard W Berry

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $1,147,271
    From this org
    $1,079,799
    From related orgs
    $0
    Other
    $67,472
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $386,587
    Bonus
    $375,000
    Other
    $318,212
    Deferred
    $17,765
    Nontaxable benefits
    $49,707
    Filer's total
    $1,147,271

  • Tigran Khrimian

    SENIOR VICE PRESIDENT

    Total calculated
    $1,085,319
    From this org
    $928,786
    From related orgs
    $0
    Other
    $156,533
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $373,648
    Bonus
    $430,000
    Other
    $125,138
    Deferred
    $112,844
    Nontaxable benefits
    $43,689
    Filer's total
    $1,085,319

  • Jon Kroeper

    Executive Vice President

    Total calculated
    $1,184,643
    From this org
    $1,071,446
    From related orgs
    $0
    Other
    $113,197
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $7,986
    Bonus
    $0
    Other
    $1,063,460
    Deferred
    $93,633
    Nontaxable benefits
    $19,564
    Filer's total
    $1,184,643

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel
SCHEDULE J, PART I, LINE 1 FIRST CLASS OR CHARTER TRAVEL: FIRST CLASS AIR TRAVEL IS LIMITED TO EXTENDED AND INTERNATIONAL FLIGHTS AND BOARD TRAVEL, SUBJECT TO CERTAIN OTHER RESTRICTIONS REGARDING TIME AND DISTANCE.
Schedule J, Part I, Line 1a Travel for companions
TRAVEL FOR COMPANIONS IS LIMITED TO EMPLOYEES ON EXTENDED TRAVEL AND IS SUBJECT TO CERTAIN RESTRICTIONS REGARDING TIME AND DISTANCE. THE BOARD MEMBERS' TRAVEL POLICY AS WELL AS THE CONTRACT FOR THE CEO PROVIDE FOR GUEST OR COMPANION TRAVEL FOR CERTAIN BUSINESS-RELATED EVENTS. COMPANION TRAVEL IS TREATED AS TAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
IT IS FINRA'S PRACTICE TO GROSS-UP LIMITED NON-CASH EMPLOYEE RELOCATION EXPENSES.
Schedule J, Part I, Line 4a Severance or change-of-control payment
In connection with Jon Kroeper's separation from FINRA, he was paid $271,541 in 2024. This amount is reflective of his 17 years of service to FINRA .
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
FINRA OFFERS TWO NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS. CLIFF VESTING EVENTS AND PAYOUT DIFFERENTIALS ARE TAXABLE IN THE YEAR IN WHICH THEY OCCUR AND ARE REPORTED IN COLUMN B(III) OF SCHEDULE J, PART II. UNVESTED BENEFIT AND CONTRIBUTION ACCRUALS ARE TAX DEFERRED AND ARE REPORTED IN COLUMN C OF SCHEDULE J, PART II. 1) FINRA'S SUPPLEMENTAL DEFINED BENEFIT PLAN IS A NON-QUALIFIED DEFINED BENEFIT PLAN THAT IS PROVIDED TO MEMBERS OF A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES SUCH AS THOSE DESCRIBED UNDER 201(2), 301(A)(3), AND 401(A)(1) OF ERISA. IT IS A FINRA FUNDED PLAN IN WHICH PARTICIPANTS TYPICALLY HAD A TAXABLE ONE-TIME CLIFF VESTING EVENT AT A SPECIFIED MILESTONE BASED ON BOTH AGE AND YEARS OF SERVICE. THIS PLAN WAS CLOSED TO NEW ENTRANTS AS OF 12/31/05. REMAINING PARTICIPANTS ARE FULLY VESTED. THE AMOUNTS BELOW, IF ANY, REPRESENT THE ACCUMULATED BENEFITS RECOGNIZED IN THE CURRENT YEAR FOR FEDERAL INCOME TAX PURPOSES UPON THE INDIVIDUALS' SEPARATION FROM FINRA AND THE PLAN. THE BENEFITS WERE EARNED WITHIN THE NON-QUALIFIED DEFINED BENEFIT PLAN OVER THE DURATION OF THE INDIVIDUALS' YEARS OF SERVICE TO FINRA. THESE AMOUNTS VARY BY INDIVIDUAL BASED ON YEARS OF SERVICE, COMPENSATION LEVELS AND PAY GRADE, AGE AT SEPARATION, AND PREVIOUS VESTING EVENTS. PARTICIPANTS IN THE NON-QUALIFIED DEFINED BENEFIT PLAN THAT HAD ACCUMULATED BENEFITS RECOGNIZED IN 2024 INCLUDE: NONE THE DEFINED BENEFIT PLANS NOTED ABOVE, BOTH PENSION AND SUPPLEMENTAL, MAY EXPERIENCE FLUCTUATIONS DUE TO CHANGES IN DISCOUNT RATES AND OTHER ACTUARIAL FACTORS. THESE FLUCTUATIONS MAY RESULT IN SIGNIFICANT VALUATION CHANGES, BOTH POSITIVE AND NEGATIVE, THAT AFFECT THE REPORTED COMPENSATION IN ANY GIVEN YEAR. 2) FINRA'S SUPPLEMENTAL DEFINED CONTRIBUTION PLAN IS A NON-QUALIFIED PLAN THAT IS OPEN TO VICE PRESIDENTS AND ABOVE WITH AN ANNUAL BASE PAY ABOVE THE QUALIFIED LIMIT. IT IS A FINRA FUNDED PLAN WITH A 3 YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WITH CONTRIBUTIONS VESTING IN 2024 INCLUDE: RICHARD W. BERRY - $289,973 ROBERT L.D. COLBY - $131,741 GENE G. DEMAIO - $261,788 TODD T. DIGANCI - $160,276 JEFFREY KALINOWSKI - $206,338 OMER MEISEL - $171,347 STEVEN RANDICH - $471,715 JONATHAN SOKOBIN - $181,775 NATHANIEL STANKARD - $281,731 PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WITH A PAYOUT IN 2024 INCLUDE: NONE
VOLUNTARY COMPENSATION DISCLOSURES:
CYRUS AMIR-MOKRI, MORTIMER BUCKLEY, JAMES CROWLEY, NAUREEN HASSAN, PENNY PENNINGTON, ERIC SCHIMPF AND ETHIOPIS TAFARA WERE VOLUNTEER BOARD MEMBERS IN 2024 AND DID NOT RECEIVE COMPENSATION FOR THEIR SERVICES. HOWEVER, CYRUS AMIR-MOKRI, JAMES CROWLEY AND ETHIOPIS TAFARA DID RECEIVE TAXABLE FRINGE BENEFITS AS REPORTED ON FORM 1099-NEC.
SUPPLEMENTAL COMPENSATION INFORMATION
FOR THE HIGHEST COMPENSATED EXECUTIVES, BASE SALARY AND INCENTIVE COMPENSATION (EARNED IN THE PRIOR YEAR) REPORTED IN COLUMNS B(I) AND B(II) ARE INDEPENDENTLY DETERMINED AND APPROVED BY THE MANAGEMENT COMPENSATION COMMITTEE OF THE BOARD OF GOVERNORS. OTHER REPORTABLE COMPENSATION (COLUMN B(III)) IS LARGELY COMPOSED OF RETIREMENT VESTING AND/OR PAYOUT EVENTS FROM NON-QUALIFIED PLANS, AS WELL AS SEVERANCE OR SEPARATION PAYMENTS, IF APPLICABLE. FOR FURTHER DETAILS REGARDING EXECUTIVE COMPENSATION, PLEASE REFER TO SCHEDULE O.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FINRA CAT LLC

    REGULATORY · DE · income $190,528,750 · assets $45,242,758

    Directly controlled by FINRA INC

  • FINRA TECHNOLOGY SERVICES LLC

    TECHNOLOGY RESOURCES · DE · income $0 · assets $888,893

    Directly controlled by FINRA INC

  • 1239524 BC UNLIMITED LIABILITY COMPANY

    TECHNOLOGY RESOURCES · CA · income $3,216,083 · assets $1,561,327

    Directly controlled by FINRA TECHNOLOGY SERVICES LLC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Highvista Designated Portfolio

    Excluded · Investment · DE · 100% owned · share of income $19,966,740 · share of assets $224,132,356

    Directly controlled by FINRA INC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.1
Source object
202513219349303591

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