Brian Kovack Urges FINRA Member Firms To Support His Candidacy For FINRA Board Of Governors

Dissident Candidate for Mid-Sized Firm Seat Continues to Communicate About Key Regulatory Reforms of Vital Importance

Jul 22, 2015, 09:00 ET from Kovack Securities

FT. LAUDERDALE, Fla., July 22, 2015 /PRNewswire/ -- Brian Kovack, President and Co-Founder of independent broker-dealer and FINRA member firm Kovack Securities, Inc., today announced his renewed call to action for FINRA member firms, urging them to vote for his candidacy for the mid-sized firm seat on FINRA's Board of Governors. Mr. Kovack, whose official candidacy commenced on July 6 following a successful effort to secure petition signatures supporting his inclusion on FINRA's ballot, shared the following communication directly with FINRA's member firms:

"I am writing to remind you about the critical election for the FINRA Board of Governors that is coming up on July 30th, and to ask you to take a step toward a more positive and productive regulatory environment for your firm, your advisors, and their clients by supporting my candidacy for the mid-sized firm seat on the FINRA Board.

As mid-size FINRA member firms, we have only one seat on the Board of Governors allocated to representing our interests – one voice making sure that FINRA hears and considers the vital needs of our segment of the industry. As a Co-Founder, owner and broker / dealer executive of a mid-size firm, I truly understand how FINRA's actions and policies directly affect our firms, financial advisors and their clients.

Vote for Reform at the FINRA Board Level, Based on
Common Sense Changes That Drive Positive Outcomes for Firms, Advisors and Clients

In previous communications, I have outlined some of the actionable measures FINRA could take right away to improve the regulatory climate for our firms and advisors. If you choose me as your representative on the FINRA Board, I will actively champion these changes, which include, among others:

  • Bringing real accountability to the arbitration process;
  • Improving the efficiency of exams by instituting common-sense measures such as deadlines for examiners;
  • Reducing 'noise' in Form U4 filings by implementing a de minimis exemption for small settlements between representatives and creditors such as credit card companies.

The most effective reform is based on simple, common sense measures. These proposed changes are very simple and straightforward, yet have the potential to drive substantial improvements to our operations and the ability of our advisors to serve their clients. They also reflect my fundamental view that we can work together with FINRA to help our industry's regulator find more effective ways to achieve its goals of protecting investors and preserving market integrity.

(For a more in-depth discussion on the reform measures above and the other key priorities driving my candidacy, please see my website, You can also read more about the Financial Services Institute's (FSI's) endorsement of my candidacy here.)

I would be honored to have your support in this vital election. Please remember to vote by sending FINRA your signed Proxy by July 24th (this Friday) to insure it is received before the FINRA annual meeting on July 30th. You have three (3) options, which are:

1) Print, Sign & Mail the Proxy you received to FINRA at the following address:

Corporate Election Services
P.O. Box 1150
Pittsburgh, PA 15230-9404

2) Vote online using your specific ID Number (11 digits), which is located on the Proxy sent to you from FINRA via US Mail. The website is

3) Vote by telephone by calling (888) 693-8683. Again, you will need your 11 digit specific ID Number, which is located on the Proxy which FINRA sent to you via US Mail.

Important: Only the Final or Very Last Proxy which You have Sent to FINRA Counts!

If you have already sent in a Proxy voting for me, then no further action is needed. If, however, you have sent a Proxy for my opponent and now wish to change your mind and vote for me, then you have only the option to print, sign and e-mail the attached replacement Proxy form and send it via US Mail to the Pittsburgh, PA address listed above in option 1.

If you have any questions, please call me at (954) 670-0597 or e-mail me at

Thank you again for your time and consideration. I hope to have the opportunity to serve you and our fellow mid-size firm members on the FINRA Board of Governors."

About Kovack Securities
Kovack Securities is a privately owned, national, full-service independent broker-dealer based in Fort Lauderdale, Florida. Founded in 1998 by Mr. Kovack and his father & Chairman Dr. Ronald Kovack, they have grown from zero financial advisors to approximately 400 affiliated independent financial advisors across the country. Mr. Kovack oversees the firm's day-to-day operations and serves as a strategic partner and advisor.


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SOURCE Kovack Securities