District 4 – Midwest Region Candidates
Kenneth M. Cherrier, SVP AML Compliance, U.S. Bank Wealth Management, U.S. Bancorp Investments Brett Flansburg, Vice President and Chief Compliance Officer AEIS, Ameriprise Financial Services, Inc. Erik Karanik, Head of Wells Fargo Advisors Operations & Branch Infrastructure, Wells Fargo Advisors Charles Henry Richter, Chief Compliance Officer, First National Capital Markets Gerhmhexi#Tvsjmpi#Jsvq##Vikmsrep#Gsqqmxxii#Ipigxmsr#
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Brett Flansburg is Vice President and Chief Compliance Officer of Ameriprise Financial' s clearing broker, American Enterprise Investment Service, Inc. (AEIS). AEIS is the clearing broker for retail business introduced by Ameriprise’s network of nearly 10,000 financial advisors. Brett has over 20 years of financial services experience in various Operations and Compliance roles. Currently, Brett and his team are responsible for oversight of all broker dealer, investment advisory, and bank regulatory obligations and controls in Ameriprise's operations divisions, all lending and cash products, financial reporting, technology as well as the firm's compliance due diligence program focused on recruitment of experienced financial advisors. Brett previously led Ameriprise's AML and Anti-Fraud departments.
Brett holds an undergraduate degree from Minnesota State University in Business Administration with a focus in Financial Planning and a minor in Economics. Brett also holds the Series 4, 7, 24, 27, 63 and 79 FINRA registrations. In addition, Brett served on the FINRA Midwest Regional Committee from 2018-2019 and is currently working to complete the FINRA Certified Regulatory and Compliance Professional (CRCP) certification.
Personal Statement: I ask that you allow me to continue to represent member firms with District 4. I am passionate about financial services business and enjoy driving change through solution-based innovation. Throughout my professional career I have operated with three key principles that I believe would allow me to represent member firms well including:
First, be a student of the business through continued learning. My entire career has been focused on financial services. I have been fortunate to grow in this industry supporting a variety of business activities. Our industry is dynamic and changing at an increasing pace with developments of new products and technology. Our job is to stay abreast of these changes to ensure our clients are served well and related regulations are effectively designed to address investment risks.
Second, being actively involved and giving back. I apply this in every effort in my personal and business life, whether through community volunteer activities or involvement within Ameriprise and the industry. Within business, this means volunteering for new and exciting projects focused on new products, policies, technologies, etc. This also means representing member firms through various forums (e.g. trade groups, benchmarking initiatives, etc.) and presenting at conferences and events. Being involved helps share best practices, influence regulatory standards and drive effective controls, products and practices across the industry.
Finally, be an authentic leader and lead by example. I believe that no matter what position a person has, he or she should be approachable to all staff members, peers and outside parties. The person should also lead by example, which to me means being authentic, being direct and demonstrating leadership through actions.
I have been fortunate to serve on the FINRA Midwest Regional Committee for the last two years engaging in valuable dialogue with FINRA staff on many current initiatives, including FINRA rule proposals, FINRA 360 and the risk programs. I hope to continue to represent District 4 firms by advocating for thoughtful self-regulation. &<'=>=<528y?4z>t28@4?%{)2(>4'
(01$699 Head of Wells Fargo Advisors Operations & Branch Infrastructure #0?* Wells Fargo Advisors
&<'=>=<528>4(?<|s;8<'=8y2?*4' My name is Erik Karanik, and I ask for your consideration to join the Midwest Regional Committee for District 4. Currently, I lead Products, Supervision, and Service for Wells Fargo Advisors. I received a Bachelor’s degree in Business Administration from Villanova University and hold industry regulations including the series 7 and 24 licenses. Throughout my 29 years in the financial services industry, I have been fortunate to lead teams focused on strategy, incentives, supervision, operations, and investment products – a unique breadth of experience I am hoping will bring value to the committee. My tenure in the industry has allowed me to understand the unique needs of clients, as well as, witness the conflicts that will arise from time to time. Through this, I have developed a strong belief in the intersection of advice and service to clients and the rules that govern our industry. From my experience, I believe that rules and regulations can and do add value to those client interactions and help resolve conflicts. I have benefited from the structure of my firm and variety of positions I have held. Wells Fargo Advisors has provided me with exposure to a large full-service business (Wells Fargo Advisors), small firms (First Clearing), and the independent advisor (FiNet). Each of these business models is represented in the membership of the Midwest Region. In addition, this allows me to bring a unique perspective to the committee, recognizing that a representation from small and large firms makes FINRA a better and more effective organization. As the regulatory landscape continues to evolve, I want to be an advocate for the clients, financial advisors, and the firm I represent. It is just as important for me to be a voice for FINRA in return and a part of the upcoming changes FINRA plans in 2020 and beyond. I would be honored to be a part of that opportunity and excited to contribute to the dialogue. Thank you for your consideration. 7|5>4' «0=91+9-6?5+=>$9¦6&50169?652*69+?9 «0=91+9+2(2&69/0%6+ $/%010/+) 72*815) 3*2#9')&1*%/5 $*##1++)) ?5),+1*% 721%,%2-0 "2(09 Charles Henry Richter ',-$09 Chief Compliance Officer #,3(9 First National Capital Markets $/%010/+) <1*&2/;4. /%0 7)2(*%/5 6+/+)#)%+ Charles Richter, J.D. Extensive compliance and regulatory experience with Broker Dealers, Investment Advisors, and Mutual Funds. Significant experience as point person in SEC and FINRA Regulatory Examinations. Responsible for creation and implementation of Financial Service Compliance Programs for more than 25 years. Member New York Bar and Nebraska Bar Registered Options Principal, Financial and Operations Principal, Compliance Officer, General Securities Principal, Municipal Securities Principal, Operations Professional, General Securities Representative, Investment Advisor August 2018 to Present Chief Compliance Officer for First National Capital Markets, Omaha, NE January 2019 to Present Chief Compliance Officer-First National Fund Advisers Chief Compliance Officer-First National Advisers 2005 – 2017 Chief Compliance Officer for Fenimore Asset Management Trust, Cobleskill, NY, Chief Compliance Officer for Fenimore Asset Management, Inc., Chief Compliance Officer Fenimore Securities, Inc., and Chief Compliance Officer Fenimore Asset Management Trust T/A 1995 – 2004 Vice President and Compliance Officer for Kuehl Capital Corporation, Omaha, NE 1995 – 2004 Chief Compliance Officer and Chief Operating Officer of Manarin Investment Counsel, Ltd. - Omaha, NE 1991 – 2004 President of Broker Dealer Services, LLC, Omaha, NE Professional Involvement Investment Company Institute Chief Compliance Officer Committee – 2005-2017 Investment Company Institute XBRL Working Group – 2005 Education Juris Doctor, Creighton University School of Law, Omaha, NE Bachelor of Arts in Political Science, Creighton University, Omaha, NE Personal Statement: After more than 25 years of compliance and regulatory experience, I am still passionate about the importance of my profession to the financial industry. If chosen to sit on the FINRA Regional Committee, it would be my privilege to use my extensive industry experience to address the important member concerns on current rules and to provide input on rule proposals impacting the future of our industry. The creation of regulatory programs that would benefit my colleagues in the industry may be the most important part of this position, in my opinion. -;+1*%/5 =1%"(> <,15 -) *03/)12$ ;0&/,-08 30/.(0 )3 769 <,15 -) 4).'.&0 +,%0)9