Michael Pagano of Villanova School of Business First Finance Professor Appointed to Financial Industry Regulatory Authority

VILLANOVA, PA, January 26, 2009—The Villanova School of Business is pleased to announce that Associate Professor of Finance, Michael Pagano, has been appointed a member of the Financial Industry Regulatory Authority’s (FINRA) Market Regulation Committee. For the first time in its history, FINRA has appointed a finance professor to the 10-person committee that oversees the regulatory activity in major U.S. equities markets and the securities firms that operate within these markets.

In this role, Dr. Pagano will serve a three-year appointment with fellow committee members representing the broker-dealer, investment management, and securities law communities. As the first finance professor to join the Market Regulation Committee, Dr. Pagano says, “I am optimistic that I will bring a unique perspective to the committee’s deliberations.”

Dr. Pagano is a noted scholar who has conducted academic research in market microstructure, financial institutions, and financial markets. Prior to joining the VSB faculty, Pagano worked within various sectors of the financial services industry for 10 years including Citibank as a Senior Account Officer and Reuters America as a Real-Time Applications Manager. As a faculty member at VSB, Pagano is regularly consulted for his expert insights by leading business media including Bloomberg, The Associated Press, and BusinessWeek.

Dr. David Shaffer, Chairman of the Villanova School of Business Finance Department, states, “The finance department and the entire school of business are proud that FINRA has recognized Dr. Pagano as a worthy candidate for the Market Regulation Committee. This is a highly respected group and we are elated that he will directly influence the regulation and operation of U.S. securities firms and equity markets.”

The Financial Industry Regulatory Authority is the largest non-governmental regulator for all securities firms doing business in the United States. The organization oversees nearly 5,000 brokerage firms, 172,000 branch offices, and approximately 665,000 registered securities representatives.

Founded in 1922, The Villanova School of Business is ranked #13 in the nation among undergraduate business schools. The school is home to the nationally-recognized Applied Finance Lab, a simulated trading floor allowing students access to real-time trading and resources used on Wall Street. More at www.business.villanova.edu.

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