Statement by FINRA President and CEO Robert W. Cook Upon the Death of Former NASD Chairman and CEO Robert Glauber

WASHINGTON—FINRA mourns the loss of former NASD Chairman and CEO Robert Glauber, a tireless advocate for the interests of investors and sound financial regulation throughout his distinguished career in the private, public and academic sectors.

Glauber joined the NASD Board of Governors in 1998 and served as Chairman and CEO from 2000-2006. Among his many contributions to securities regulation, Glauber led the transition of NASD, now FINRA, away from owning for-profit markets to a not-for-profit organization solely focused on its mission of protecting investors and ensuring market integrity.

His legacy lives on in numerous ways at FINRA. He transformed NASD by divesting its Nasdaq and Amex ownership, putting NASD in a sound financial position to pursue its regulatory mission; led the creation of new rules in critical areas such as analyst conflicts of interest and mutual fund breakpoints; created the NASD Investor Education Foundation; established the TRACE bond price transparency system; and developed an extensive training program for all examiners, among many other accomplishments.

Prior to joining NASD, Glauber was a Professor at Harvard Business School; afterward he returned as a Visiting Professor at Harvard Law School and Adjunct Lecturer at the Harvard Kennedy School of Government. He served as Under Secretary of the Treasury for Finance, 1989-1992. In 1987-88, Glauber served as Executive Director of the Task Force appointed by President Reagan to report on the October 1987 stock market crash. He served on the Boards of the Federal Reserve Bank of Boston, Moody’s Corp., Freddie Mac, a number of Dreyfus mutual funds and the Investment Company Institute, among others.

He will be missed greatly by his broad network of colleagues and friends who respected him and the work he did in so many different capacities. On behalf of the FINRA Board of Governors and the entire FINRA family, we extend our deepest condolences to Mrs. Barbara Glauber, and their children Alex and Amelia.