Jay Gettenberg | ACI CEO & Managing Partner, CPA
For more than 20 years, I have worked alongside small to mid-sized broker-dealers as a CPA and a Series 27 FinOp (Financial and Operations PrincipaI). Throughout my career, I’ve seen firsthand how the securities industry’s regulatory framework works in practice. and have heard directly from hundreds of firms about the operational challenges they face in an increasingly complex environment. As FINRA’s Board election moves forward, I believe that distinction matters.
My candidacy for this position is informed by the relationships I’ve built with small broker-dealers, who form the backbone of innovation, capital access and entrepreneurial vision within our industry. Many of those whom I’ve worked with over the past two decades feel that their practical realities are not always fully reflected in policy discussions— from the operational strain of evolving rules to the cumulative financial impact of compliance requirements. The breadth of my engagement across the industry enables me to bring a unique perspective on the issues permeating our community, along with the regulatory licenses and hands-on expertise required to address them constructively.
Effective governance requires an understanding of how policy decisions influence innovation, competition and responsible growth. ACI has been involved in approximately 25% of all new broker-dealers formed in the United States over the past five years, giving us rare visibility into where the securities industry is heading. We see, in real time, what types of firms are entering the market, how business models are evolving and how the FINRA New Member Application process assesses risk and shapes capital formation. These insights directly correlate with the future direction of the industry.
I also bring operating experience to this role. As the CEO and Managing Partner of a regulatory consulting business – and now an owner of a broker-dealer – I understand firsthand the responsibilities of managing budgets, allocating resources and making cost-benefit analysis decisions within a regulated framework. There is a meaningful difference between advising on compliance and bearing the financial accountability for it. That operating experience is critical not only in relating to member firms, but also in thoughtfully evaluating FINRA’s own budget, fee structures and regulatory priorities.
One of the clearest examples of the challenges facing small firms today is the cost of annual PCAOB audits. The small broker-dealer industry spends more than $70 million per year on these audits across fewer than 3,000 member firms. For many businesses, this is not a marginal line item; it is a material burden. As a CPA, a FinOp and someone actively involved in managing approximately 200 broker-dealer audits annually for our broker-dealer clients, I understand both the intent of these requirements and their operational consequences. I have been to Congress to advocate for reconsideration of PCAOB’s role in the broker-dealer audit framework. Investor protection and market integrity must remain paramount — but regulation must also be proportionate and economically sustainable.
Over the years, I have built strong relationships across compliance, audit and legal communities. If elected, I would use the Board of Governors platform to deepen dialogue — listening carefully to firms and industry participants, understanding their challenges and bringing those perspectives back to the Board in a constructive, solutions-oriented manner. My candidacy is guided by the proper representation, enthusiastic engagement and thoughtful balance required to effectuate change.
For two decades, my professional life has been dedicated to helping broker-dealers meet regulatory expectations with rigor, integrity and practical discipline. Running for a seat on FINRA’s Board of Governors is an extension of that commitment — an opportunity to contribute experience from the front lines to the broader governance of our industry, and to help ensure that regulation remains strong, thoughtful and sustainable for the member firms it oversees.
Small and large firms that were members of FINRA as of Friday, June 5, 2026 are eligible to vote using their firm’s control number.