Regulator Resigns After Bingo Fraud Leak

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A top official for the Financial Industry Regulatory Authority resigned after the agency was informed he was indicted for felony theft and charitable bingo fraud in 1993, the year he joined the agency.

Bloomberg reports that Mitchell C. Atkins, a senior vice president who managed Finra’s work in 11 states, quit after spending 20 years with the brokerage industry self-regulator and its predecessor.

A Wisconsin broker who was the target of enforcement actions overseen by Atkins wrote Finra about the indictment on May 21.

Nancy Condon, a Finra spokeswoman, confirmed that Atkins, 42, resigned. She declined to answer other questions, including when he resigned and whether the regulator knew about his indictment before he was hired. Atkins did not return a phone message seeking comment.

Atkins joined the National Association of Securities Dealers, Finra’s predecessor, in 1993, according to a statement released when he took over the organization’s Florida office. He oversaw a staff of 160 people regulating 850 brokerages, according to his Finra biography.

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Finra Regulator Resigns After 1993 Bingo Fraud Is Leaked

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