The Financial Industry Regulatory Authority's top 20 managers received a total of more than $29 million in 2008. The compensation prompted brokerages to seek a say on how much the watchdog's senior executives are paid. FINRA's board is allowed to ignore the proposal because it is nonbinding. "The board of governors continually reviews FINRA's policies and practices in order to ensure they support its mission to protect investors and the integrity of our markets," FINRA said. "The board will carefully review each of the proxy proposals beginning at its next meeting."

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