Kim Chapman Takes the Helm at FINRA's National Adjudicatory Council
Chief Compliance Officer of Berthel Fisher and Company, Inc., offers over three decades of rich experience in financial services.
Recently, the Berthel Fisher Companies announced a significant development within their leadership. Kim Chapman, the Chief Compliance Officer of Berthel Fisher subsidiaries, has been elected as the Chair of FINRA's National Adjudicatory Council (NAC). This prestigious role reflects her competence and extensive background in the compliance sector. Prior to this appointment, Kim began her four-year term in the Mid-Size Firm seat within the NAC.
The National Adjudicatory Council, appointed by the FINRA Board of Governors, plays a vital role in the regulatory landscape. It assesses initial disciplinary decisions made by FINRA hearing panels and also addresses appeals regarding disciplinary matters that require careful examination. This council handles various statutory disqualification issues and appeals pertaining to membership, thereby exercising important regulatory authority.
Expressing her thoughts on this achievement, Chapman stated, "It's a distinct honor to be elected by my peers to serve as Chair of the NAC." She emphasized the collaborative responsibility of reviewing disciplinary decisions and membership matters, which are crucial to maintaining the integrity of the financial system. Her plan is to utilize the diverse expertise of council members to foster equitable and coherent enforcement actions that ultimately safeguard the investing public.
Since her appointment as Chief Compliance Officer in 2020, Chapman has been instrumental in overseeing Berthel Fisher's subsidiaries, which encompass a variety of financial service operations. These include independent broker-dealers, a registered investment adviser, and an insurance agency, showcasing a comprehensive understanding of the finance and compliance industries.
Chapman's compliance experience spans over twenty years, allowing her to navigate through various business models, from independent entities to larger, more integrated financial firms. Her broad expertise encompasses numerous sectors, including retail financial services, fintech solutions, investment banking, and manufacturing of investment products such as insurance and mutual funds.
Throughout her extensive career, Kim has thrived in environments with both large and small numbers of registered representatives. This unique perspective equips her to handle compliance challenges effectively and equips her to contribute significantly in her new role.
Andrew Christofferson, the CEO & President for Berthel Fisher subsidiaries, praised Kim's appointment, stating, "The wealth management industry will benefit from Kim's leadership at the FINRA NAC. Her election underscores her profound knowledge and integrity, reflecting the caliber of leaders we cultivate within our firm." He recognized that Kim’s understanding of the issues confronting financial advisors and their clients will enhance the council's ability to provide informed oversight.
About Berthel Fisher Companies
The Berthel Fisher Companies includes Berthel Fisher & Company Financial Services, a leading independent broker-dealer, BFC Planning as an SEC-registered investment adviser, and Berthel Fisher & Company Insurance, an agency that provides quality solutions in partnership with top carriers. The company also operates Securities Management & Research (SMR), an insurance-based broker-dealer, and has majority ownership in various affiliated entities that work across different financial services sectors.
About FINRA
FINRA serves a crucial function as a not-for-profit body focused on investor protection and market integrity. They regulate member brokerage firms across the U.S., overseeing the enforcement of rules and compliance with federal securities laws. The organization offers essential education and training for broker-dealer personnel, ensuring they meet rigorous standards. Additionally, FINRA administers a dispute resolution forum to address issues between investors and brokerage firms, playing an integral role in the financial ecosystem.
Frequently Asked Questions
Who is Kim Chapman?
Kim Chapman is the Chief Compliance Officer for Berthel Fisher and has over 30 years of experience in the financial services industry.
What is the National Adjudicatory Council?
The NAC evaluates disciplinary decisions made by FINRA panels and addresses appeals and statutory disqualification issues within the securities industry.
When was Kim Chapman elected as Chair of the NAC?
Kim Chapman was elected as Chair of the NAC for the upcoming term in 2026.
What expertise does Kim Chapman bring to FINRA?
Chapman brings extensive compliance experience, having worked across various financial sectors and business models, providing her with a comprehensive view of industry challenges.
How does FINRA contribute to market integrity?
FINRA is dedicated to investor protection, regulating brokerage firms, enforcing compliance with securities laws, and offering dispute resolution services for investors and firms.
