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Finalis Welcomes Steven Price as Chief Compliance Officer

In a strategic move reflecting its commitment to compliance and innovation, Finalis, a leading broker-dealer platform catering to independent investment bankers and dealmakers, has announced the appointment of Steven Price as Chief Compliance Officer (CCO). This comes at a time when artificial intelligence (AI) is significantly reshaping the investment banking landscape, driving a transition towards independent dealmakers.

Steven Price brings an impressive track record to Finalis from his previous role as the Head of Market Investigations at FINRA, a position he held from 2023 to 2026. In this capacity, he was responsible for overseeing investigations into potential misconduct within U.S. securities markets and spearheaded the development of FINRA’s first AI-driven investigative tool in 2022. His expertise and regulatory experience are expected to strengthen Finalis's compliance capabilities, positioning it as a vital resource for the growing community of independent dealmakers.

Understanding Finalis

Founded in 2020, Finalis serves to bridge the gap between technology and compliance by offering independent bankers, boutique investment firms, and placement agents essential functionalities such as compliance oversight and innovative deal-flow technology. With a network of 924 dealmakers worldwide, Finalis has facilitated an impressive $33.8 billion in transaction volume, marking its status as a formidable player in the investment banking sector. Its members are recognized as some of the largest investment banks in the U.S. based on completed transactions.

Why Steven Price’s Appointment Matters

The infusion of Steven Price into Finalis marks a significant step towards reinforcing the compliance infrastructure that independent operators require in a rapidly evolving market. His background as a technology-focused regulator, combined with a comprehensive understanding of emerging business models, allows him to expertly navigate regulatory landscapes shaped by technological advancements. As Price states, “I see Finalis as a technology-driven organization that thinks creatively about the intersection of business innovation and technology-assisted oversight.”

Federico Baradello, the founder and CEO of Finalis, expressed confidence in the impact Price will have, indicating that his wealth of knowledge positions Finalis as an optimal platform for sophisticated dealmakers seeking modern technology without compromising on regulatory rigor.

Trends in Investment Banking

The dynamics within investment banking are experiencing a significant transformation driven by AI and changing market demands. Recent data indicates that the share of U.S. M&A advisory fees earned by elite independent firms has nearly doubled in recent years, reflecting the increasing prominence of independents. From under 15% in 2018, their share has surged to over 27% as of 2024.

As larger banks withdraw from lower middle-market transactions, independent firms have stepped in to fill the void. Notably, more than 40% of all M&A transactions involve deals valued under $50 million, a segment where Finalis operates very effectively. The average transaction size on its platform stands at around $46 million, highlighting Finalis’s role in empowering smaller firms in the competitive landscape.

Simultaneously, the formation of new broker-dealers has slowed, revealing a shrinking pool of regulated entities just as demand for independent operators rises. This presents an opportunity for Finalis to solidify its foothold in the market, offering essential regulatory support crucial for independent firms navigating the complexities of compliance.

About Steven Price

Before taking his role at FINRA, Steven Price served as the inaugural leader of the National Cause Program, unifying various investigative units into a cohesive national platform. His extensive career also includes significant stints at SSC/ALPS and his beginnings as an options market maker. His diverse experience across sectors will prove invaluable in guiding Finalis’s regulatory framework.

About Finalis

Finalis is an innovative FINRA-registered broker-dealer that provides essential infrastructure and compliance support to independent investment players. The platform streamlines deal execution and connects members to a curated network of investors. By leveraging technology, Finalis is dedicated to transforming the private capital markets, allowing dealmakers to operate more efficiently while meeting their regulatory obligations. To learn more, visit www.finalis.com.