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FINRA names two Harvard professors as public governors

The Financial Industry Regulatory Authority in Washington has named two new public governors from Harvard University.

Brigitte C. Madrian, the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School, is a specialist in behavioral economics and household savings and investments. Luis M. Viceira is the George E. Bates Professor at the Harvard Business School, who has done research in asset allocation. Both will join FINRA’s board in January, the group announced Tuesday.

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FINRA is the brokerage industry’s self-regulatory body. It is overseen by a 24-person board of governors, 13 of those public and 10 from the industry. The chief executive, Richard Ketchum, has the remaining seat.

The authority also named a new Investor Issues Committee that will advise FINRA staff on proposed rulemaking. The committee includes representatives of investment firms and universities, the Securities and Exchange Commission, and consumer groups.

Beth Healy can be reached at
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