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FINRA market watchdog executive Steven Price joins Finalis
Finalis said Price will serve as chief compliance officer after his six years at FINRA, and the firm has facilitated $34 billion of transactions since 2020.
Steven Price, a senior vice president of market investigations at the U.S. Financial Industry Regulatory Authority (FINRA), has left the Wall Street watchdog to become chief compliance officer at dealmaking fintech Finalis, according to Reuters.
Reuters reported that during the past six years at FINRA, Price supervised thousands of investigations into potential securities law violations, including insider trading and market manipulation, and he led the development of an AI-driven model to centralize and analyze complaints, tips, and other referrals through the watchdog’s National Cause Program.
Price’s move comes as competition from fintechs and AI is reshaping investment banking, with boutiques increasingly using AI tools to handle analytical and administrative work that previously required large teams at bigger firms, Reuters said.
Finalis, based in San Francisco, said it was founded in 2020 by Federico Baradello and has facilitated $34 billion of transactions to date, Reuters added.