National Adjudicatory Council

The National Adjudicatory Council (NAC) is a FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings. While a decision is on appeal, the sanction is not actively enforced against the firm or individual. The NAC may affirm, dismiss, modify, or reverse any finding, or remand for further proceedings. The NAC may affirm, modify, reverse, increase, or reduce any sanction or impose any other fitting sanction.

Unless FINRA's Board of Governors decides to review the NAC's appellate decision, the NAC's decision represents FINRA's final action. A firm or individual can appeal FINRA's decision to the Securities and Exchange Commission.

Date of Decisionsort ascending Proceeding No. Title Type
Oct 5, 2017 2013038986001 Richard Allen Riemer, Jr. Disciplinary Decision
Oct 2, 2017 SD-2129 Bruce Zipper Disciplinary Decision
Aug 3, 2017 2012030527503 APPEALED: Thaddeus James North Disciplinary Decision
Jul 27, 2017 SD-2130 APPEALED: Robert J. Escobio Statutory Disqualification
Jul 24, 2017 20120320803-01 Shiva Naby Disciplinary Decision
Jul 24, 2017 2012034719701 APPEALED: Paul E. Taboada Disciplinary Decision
Jul 20, 2017 2015044444801 Glenn Robert King Disciplinary Decision
Jul 20, 2017 2012034936005 David Joseph Escarcega Disciplinary Decision
Jul 20, 2017 2011025675501r APPEALED: Kimberly Springsteen-Abbott Disciplinary Decision
May 26, 2017 2011027666902 APPEALED: Merrimac Corporate Securities, Inc., and Robert G. Nash Disciplinary Decision
May 16, 2017 SD-2103 Marc N. Jaffe as a General Securities Representative with Integrity Brokerage Services, Inc. Statutory Disqualification, Denials
May 12, 2017 2012034936101 Jeffrey D. Noard Disciplinary Decision
Mar 23, 2017 2014040968501 APPEALED: Ahmed Gadelkareem Disciplinary Decision
Mar 16, 2017 2013035211801 APPEALED: David Adam Elgart Disciplinary Decision
Mar 15, 2017 2011025444501 Wood (Arthur W.) Company, Inc. Disciplinary Decision
Mar 15, 2017 2010025087302 APPEALED: Thaddeus J. North Disciplinary Decision
Mar 15, 2017 2009017440201 APPEALED: Louis Ottimo Disciplinary Decision
Mar 13, 2017 2011027926301 Matthew Joseph Sheerin Disciplinary Decision
Mar 8, 2017 SD-2117 Craig Scott Taddonio as a General Securities Representative with Meyers Associates, L.P. (n/k/a Windsor Street Capital, LP) Statutory Disqualification
Jan 13, 2017 2013036799501 J. Michael Casas Disciplinary Decision
Jan 13, 2017 2011026346206 Jaoshiang Luo Disciplinary Decision
Jan 10, 2017 2012033362101 Thomas Edmund Connors Disciplinary Decision
Jan 6, 2017 2012030724101 Fox Financial Management Corporation, Brian A. Murphy, James E. Rooney, Jr. Disciplinary Decision
Jan 4, 2017 2014041319201 Miguel Ortiz Disciplinary Decision
Oct 11, 2016 2009020941801 APPEALED: Lek Securities Corporation Disciplinary Decision

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