The Financial Industry Regulatory Authority said Friday that Enforcement Executive Director James S. Shorris will leave the self-regulatory agency in April and return to the private sector.More information about the reason for Shorris’ departure or his future role were not disclosed.
“Jim has always been a steady, knowledgeable hand, motivating our lawyers and investigators and guiding the day-to-day operations of the enforcement program,” FINRA Chairman and Chief Executive Richard Ketchum said in a statement.
Shorris has served in enforcement leadership roles at FINRA and its predecessor NASD for more than seven years. In his most recent position, Shorris directed investigation and prosecution of local and national disciplinary actions. He became executive director of enforcement in 2007, following roles as chief of enforcement and deputy chief of enforcement. Prior to joining NASD in 2003, Shorris served as counsel at law firm Bingham McCutchen LLP’s Boston office and served in legal and compliance positions with two Massachusetts-based broker-dealers.
“It has been a privilege serving FINRA and NASD over the last seven years, and working with such a talented and dedicated team in the enforcement department,” Shorris said in a statement. “I am especially proud of the actions we brought over that time. And I am gratified that by bringing those actions, we were able to return many millions of dollars to aggrieved investors."