Fiduciary advocates expressed concern after FINRA member firms elected a "dissident" candidate to its board of governors after he said he would represent brokers, but not investors -- the core constituency FINRA says it exists to serve.
Brian Kovack of Kovack Securities beat out FINRA's endorsed candidate John Muschalek, vice chairman of First Southwest Company, to represent mid-sized broker-dealers with 151 to 499 advisors.
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