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Muckety mover - FINRA paid well despite losses

By Muckety

December 5, 2009 at 9:45am
Muckety down

Investment News reported this week that 13 current and former execs of the Financial Industry Regulatory Authority were paid more than $1 million last year.

Among the highest paid was Mary Schapiro, who left the authority’s CEO job to chair the Securities and Exchange Commission. Schapiro received $3.3 million.

Another exec who moved to the SEC was Elisse Walter, who was paid $3.8 million as an executive VP. Walter is now an SEC commissioner.

Salaries and perks at FINRA, an industry-backed oversight group, don’t compare to the pay and bonuses at major financial firms.

Still, seven-figure pay packages are startling when you consider that the authority lost $696.3 million in 2008.

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