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 active 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
Jul 21, 2016 2010022601501 Jack Brian Weinstock Disciplinary Decision
Jul 20, 2016 2009020465801 Keith D. Geary Disciplinary Decision
Jul 19, 2016 2011028502101 North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
Jul 18, 2016 2012034389202 Bernard G. McGee Disciplinary Decision
Jul 18, 2016 2012033351801 Paolo Franca Iida Disciplinary Decision
May 20, 2016 SD-2027 Christopher Cota with Capital Financial Services, Inc. Statutory Disqualification, Denials
May 16, 2016 2010022977801 APPEALED: David B. Tysk Disciplinary Decision
May 9, 2016 SD-2069 APPEALED: Bruce Meyers with Meyers Associates, L.P. Statutory Disqualification, Denials
Apr 6, 2016 SD-2010 Michael C. Furman with Citigroup Global Markets, Inc. Statutory Disqualification, Approvals
Mar 7, 2016 2008011762801r APPEALED: Mitchell H. Fillet Disciplinary Decision
Feb 18, 2016 FPI150009 Gary James Lundgren Expedited Decision, Non-Summary Proceeding
Dec 29, 2015 2011029619301 APPEALED: Kenny Akindemowo Disciplinary Decision
Dec 22, 2015 2010025350001 Roric E. Griffith Disciplinary Decision
Dec 17, 2015 20110273503 Richard A. McGuire Disciplinary Decision
Dec 17, 2015 2010025181001 APPEALED: John Vincent Ballard Disciplinary Decision
Dec 17, 2015 2010024889501 William B. Fretz, Jr, John P. Freeman and The Keystone Equities Group, LP Disciplinary Decision
Oct 5, 2015 2009017899801 APPEALED: Rani T. Jarkas Disciplinary Decision
Sep 29, 2015 SD-2029 Bret M. Shapiro with Dawson James Securities, Inc. Statutory Disqualification, Denials
Sep 25, 2015 2012034211301 APPEALED: Fuad Ahmed Disciplinary Decision
Sep 25, 2015 2012032950101 APPEALED: Joseph R. Butler Disciplinary Decision
Jul 28, 2015 2009016159102 Warren Forest Disciplinary Decision
Jul 27, 2015 2011027993301 APPEALED: Michael Earl McCune Disciplinary Decision
Jul 23, 2015 2009016317701 James E. Rooney, Jr. Disciplinary Decision
Jul 16, 2015 2012032997201 APPEALED: Stephen Grivas Disciplinary Decision
May 6, 2015 2009016317701 The Dratel Group, Inc. and William M. Dratel Disciplinary Decision

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