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The Philadelphia Stock Exchange (PHLX) recently named Joseph Cusick vice president of regulatory programs. This is a new position, and Cusick, who was formerly PHLX's vice president of examinations and investigations, says he took on the promotional role to gain more exposure in the surveillance and technology side of the regulatory industry.

"My [previous] role was specific to doing regulatory work and taking disciplinary actions towards firms. This position is more about trying to improve the effectiveness of regulation at the PHLX," he explains.

Cusick will have two director-level staff under his jurisdiction, and he will be responsible for co-ordinating and implementing regulatory programs and policies that include maintaining and amending operational procedures, training regulatory staff and providing regulatory support for new products and business initiatives. The work may seem daunting, but Cusick claims he's up to the challenge. "The primary goal will be to increase the effectiveness and overall level of communications between our regulatory group and our financial automation group, bringing more effective technology into the marketplace," he says.