Jonathan S. Sokobin Named FINRA's Chief Economist (with Lofchie Comment)

FINRA announced that Jonathan S. Sokobin, currently Acting Deputy Director of Research and Analysis in the Office of Financial Research at the U.S. Treasury Department, will join the organization as Chief Economist and Senior Vice President. In this role, Dr. Sokobin will lead FINRA's Office of the Chief Economist.

The Office of the Chief Economist will work closely with the Office of General Counsel and other departments in developing new rules and analyzing the costs and benefits of existing and potential rulemakings. In order to facilitate that effort, the Office will be responsible for gathering and analyzing data on securities firms and markets.

Lofchie Comment: It is great that FINRA is taking economic analysis so seriously. We need a regulatory system that acts more on the basis of what we think we know (however imperfect), or at least what we can learn; and, as much as is possible, we need rules the effectiveness of which can be tested in some fashion.

Click here to view announcement in full (links externally to FINRA website).