Jessica Hopper is stepping down as head of enforcement for the Financial Industry Regulatory Authority on Feb. 3 after 18 years with the regulator, FINRA said Tuesday.
Christopher Kelly, senior vice president and deputy head of enforcement, has been named acting head of enforcement until FINRA selects a new head of enforcement.
FINRA didn't say why Hopper is stepping down and a spokesperson declined to comment.
During Hopper's time as head of enforcement, FINRA brought several significant disciplinary actions against firms, individual brokers and reps, including its largest-ever enforcement action, against Robinhood; prioritized returning of money to harmed investors; and completed an initiative to combine previously separate units into an integrated "One Enforcement" department, FINRA noted.
Under her leadership, the enforcement department fined Robinhood $57 million and ordered it to pay $12.6 million to thousands of customers — record sanctions that FINRA said "reflected the seriousness and scope of the systemic supervisory failures and other violations uncovered by" its investigation.
