WASHINGTON — Gary L. Goldsholle, vice president and associate general counsel at the Financial Industry Regulatory Authority, has been named general counsel at the Municipal Securities Rulemaking Board.
Goldsholle, who will join the board in late October, will oversee its market regulation activities, professional qualifications, enforcement support efforts and corporate governance, according to the MSRB.
At FINRA, he is responsible for regulatory policy, interpretation and rule development.
MSRB executive director Lynnette Kelly called Goldsholle an "outstanding lawyer with substantial knowledge of self-regulatory organizations and financial regulation" in a media release.
"As general counsel, Gary will ensure that our legal activities and operations are consistent with all our mission-based activities and as we implement rulemaking, market transparency and outreach initiatives to promote a fair and efficient municipal market," she said.
Goldsholle, who joined the NASD, now FINRA, in 1997 did not respond to a request for comment.
Elisse Walter, one of the five Securities and Exchange Commission members who is pushing for improvements in disclosure and price transparency in the muni market, said Goldsholle is "extremely well respected by regulators and market participants alike."
At one point at the NASD, Goldsholle's office reported directly to Walter, who worked in the regulatory policy and programs division of NASD and FINRA before becoming an SEC Commissioner.
She said Goldsholle focused primarily on new-offering corporate issues, options issues and a "broad spectrum of broker-dealer regulations" at FINRA.
Walter said the MSRB is lucky to have Goldsholle. "He is extremely bright and personable" and has a good sense of humor, she said.
Goldsholle succeeds former MSRB general counsel Peg Henry, who left the board in May to become senior vice president and assistant general counsel at Jefferies & Co. in New York.
Before joining FINRA, Goldsholle worked in the office of the chief counsel in the trading and markets division of the Commodity Futures Trading Commission. He started his career as associate in Washington, D.C., at law firm Steptoe & Johnson LLP.
Goldsholle received a law degree in 1991 from the University of Chicago Law School. He graduated from Duke University in 1988 with a bachelor of science degree and a dual major in computer science and economics.
