The FINRA Investor Education Foundation announced a new prize program on Wednesday award to recognize efforts to improve investor protection in the United States.
The prize is named for Rick Ketchum, who recently retired as chairman and chief executive officer of the Financial Industry Regulatory Authority (FINRA) and chairman of the FINRA Foundation. It aims to “recognize outstanding service and research to advance investor protection and financial capability in the United States,” FINRA Foundation says in a statement.
The annual US$10,000 prize will be given each year by the FINRA Foundation’s board to researchers and educators that have made “major” efforts at improving investor protection and financial capability. Nominations for the inaugural prize must be received by March 1, 2017.
The foundation will favour nominees that: made “demonstrable improvements” to investor protection and/or financial capability through research, education or public communications; addressed the needs or circumstances of underserved audiences; modeled effective collaboration or partnership-building; and emphasized data analysis and application.
“This award will highlight the accomplishments of leading researchers and educators who further the cause of financial well-being in the United States,” said Robert Cook, FINRA’s president and CEO and chairman of the FINRA Foundation. “We know increasing financial capability can help individuals and families achieve their life goals.”