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
Mar 7, 2012 2008012137601 Gregory Richard Imbruce Disciplinary Decision
Mar 2, 2012 20060051788-01 Harrison A. Hatzis Disciplinary Decision
Feb 24, 2012 2007011489301 Ryan A. Leopold Disciplinary Decision
Feb 21, 2012 2006005259801 John Joseph Plunkett Disciplinary Decision
Jan 2, 2012 SD12004 In The Matter of the Association of X as an Investment Company and Variable Contracts Products Limited Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12007 In the Matter of the Continued Membership of Firm X with FINRA Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12009 In the Matter of the Continued Association of X as a General Securities Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12010 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12001 In the Matter of the Continued Association of X as a General Securities Representative Redacted Decision, Statutory Disqualification, Denials
Jan 2, 2012 SD12002 In the Matter of the Association of X as an Associated Person with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Denials
Jan 2, 2012 SD12005 In the Matter of the Continued Association of X as a General Securities Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Denials
Jan 2, 2012 SD12008 In the Matter of the Continued Association of X as a General Securities Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Denials
Jan 2, 2012 SD12006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Dec 28, 2011 2007009403801 Stephen W. Wilson Disciplinary Decision
Dec 20, 2011 2005001988201 Mark B. Beloyan and Tradespot Markets, Inc. Disciplinary Decision
Oct 20, 2011 2005003610701 William J. Murphy, Carl M. Birkelbach, and Birkelbach Investment Securities, Inc. Disciplinary Decision
Oct 4, 2011 2007009981201 Robert D. Tucker Disciplinary Decision
Oct 3, 2011 2006005977901 Kale E. Evans Disciplinary Decision
Aug 5, 2011 20070094468 Dirk Allen Taylor Disciplinary Decision
Jul 28, 2011 2005000324301 Jerry William Burch Disciplinary Decision
Jul 21, 2011 200801201960 Rebecca Amy Reichman Disciplinary Decision
May 13, 2011 2007011937001 Howard Braff Disciplinary Decision
May 6, 2011 2005003437102 Michael Lee Bullock Disciplinary Decision
Apr 15, 2011 20100226181 NAC Redacted Membership Decision 20100226181 Membership Decision

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