Longtime Finra exec stepping down

Finra vice chairman Stephen Luparello will be leaving the regulator in October to join the WilmerHale law firm in Washington, the regulator said today. Mr. Luparello, a 16-year veteran of the Financial Industry Regulatory Authority Inc., and its predecessor, the NASD, held the No. 2 spot at the organization, behind chief executive Richard Ketchum. He oversees Finra's regulatory operations, including enforcement, market regulation and member oversight. In 2009 Mr. Luparello served as Finra's interim chief executive officer after former chief Mary Schapiro left to head the Securities and Exchange Commission. Mr. Luparello's last day at Finra will be October 7. Finra spokeswoman Nancy Condon did not know whether the vice chairman position would be filled after Mr. Luparello departs.