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
Jul 25, 1997 C3B940028 Investment Management & Research, Inc., Milton Anthony Greene, Kenneth Craig Krull, & Michael John DiGirolamo Disciplinary Decision
Jul 3, 1997 C10930044 Leonard John Ialeggio Disciplinary Decision
Jun 5, 1997 CMS950087 Kevin Eric Shaughnessy Disciplinary Decision
Jan 1, 1997 SD97002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1997 SD97003 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1997 SD97006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1997 SD97009 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1997 SD97004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97005 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97010 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials

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