Jon Kroeper

Experience

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  U.S. Securities and Exchange Commission

  Aug 1994 - Jan 2000

  • Counselor to the Commissioner

    Sept 1997 - Jan 2000

  • Senior Counsel

    Aug 1995 - Aug 1997

  • Attorney-Advisor

    Aug 1994 - Aug 1995
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  Instinet Group Incorporated

  Jan 2000 - Jun 2005

  First Vice President

  Developed and took leading role in implementation of regulatory policy strategies for Instinet's agency brokerage and alternative trading system businesses worldwide. Worked with CEO, business heads, and outside counsel on Instinet's responses to regulatory initiatives. Advocated Instinet's positions to statutory regulators and other stakeholders. Key initiatives included:- Led regulatory elements of effort to transition ATS business from the Nasdaq Stock Market to NASD Alternative Display Facility, securing ability to operate independently outside of Nasdaq and become largest market for Nasdaq-listed securities.- Co-chaired initiative to develop business strategy for ATS business in wake of adoption of SEC Regulation ATS, culminating in sale to Nasdaq Stock Market. Show less

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  U.S. Securities and Exchange Commission

  Dec 2005 - Mar 2007

  Counselor to the Chair

  Advised on rule making, enforcement, and policy matters before Commission, with emphasis on those impacting market structure, exchanges, and broker-dealers. Worked closely with SEC Commissioners and department heads on developing and executing Chair's agenda and prepared speeches and written statements.Key initiatives included:- Resolved outstanding issues to secure Commission approval of Nasdaq's application for exchange registration, bringing to conclusion an over 5 year process.- Obtained Commission approval of rule making demutualizing and establishing NYSE as a public company.- Worked closely with senior staff to ensure smooth implementation of Regulation NMS.- Guided effort to work with Congressional and Commission staff on legislation and SEC rule making, ultimately resulting in adoption of regulatory framework for credit ratings agencies. Show less

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  FINRA (Financial Industry Regulatory Authority)

  Mar 2007 - Dec 2023

  Executive Vice President

  Led program of 280+ analysts, investigators, and managers conducting surveillance of and investigations into activity in US equity and fixed income markets. Managed $100M annual program expenditure (staff and technology). Delivered surveillance and investigative services to all 16 US securities exchanges.*Expanded and modified program to include 100+ automated surveillance reviews with 200+ individual threat scenarios across regulatory reporting, market conduct, order handling, and market manipulation areas. Instituted continuous improvement efforts, achieving low level of false positives, increasingly higher yields, and keeping alert aging consistently below guidelines.-Developed first and only cross-market equity surveillance program, growing to cover 100% of US equity markets, and moving program to a cloud-based solution.-Implemented and adapted fixed income surveillance program to accompany expansion of TRACE reporting to securitized products and US Treasury securities.-Achieved over 99.9% industry compliance rates for wide range of regulatory reporting and market conduct rules.-Oversaw surveillance program transition from internal and proprietary exchange data to CAT data, while incorporating AI models into program.-Established innovative Rapid Remediation Program, expeditiously addressing systems-related issues at firms and avoiding opening of formal reviews.*Managed investigative docket of 3K+ matters under formal review, with high percentage of investigations resulting in informal or formal action and matter aging well below guidelines.*Engaged in extensive cross-functional efforts with stakeholders to fulfill FINRA's mission.*Advocated for organization by representing FINRA to SEC Commissioners and senior staff, industry members, and other US and foreign statutory regulators and SROs, responding to regulatory oversight inspections and audits, and as industry expert on surveillance, investigative, and regulatory matters. Show less

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  Kroeper Consulting and Advisory, LLC

  Sept 2024 - now

  Founder
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  Patomak Global Partners

  Oct 2024 - now

  Senior Consultant