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June 28, 2019 at 03:51 PM
Salaries and other compensation for top executives at the Financial Industry Regulatory Authority continue to hit $1 million and up per year, according to the broker-dealer self-regulator’s 2018 annual financial report.
FINRA execs continue to significantly out-earn officials at the Securities and Exchange Commission, which unlike FINRA is a government agency. For instance, SEC Chairman Jay Clayton earns $176,900, while the SEC commissioners take home $166,500 annually.
The 2019 FINRA salaries in the 2018 annual financial report, released Thursday, represents the base annual salary at which the executives, as of June 25, 2019, are compensated, and does not represent 2019 year-to-date earnings.
The 2019 incentive compensation amounts represent the actual payment in March 2019 based on 2018 performance. Other amounts, including deferred compensation and other benefits, are not presented for 2019, as these accumulate over the course of the year and final amounts are not determined until year-end, FINRA explained.
FINRA CEO Robert Cook started at the self-regulator in 2016. In 2019, Cook contributed $150,000 of his 2018 incentive compensation (less estimated taxes payable by him) to the FINRA Investor Education Foundation.
After this contribution, Cook’s total salary and incentive compensation for 2019 is effectively $2.35 million.
Check out the gallery above to see the total salary and incentive compensation earned by top FINRA executives.
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