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 3, 2011 2005000075703 Midas Securities, LLC, World Trade Financial Corporation, Jason Troy Adams, Frank Edward Brickell, Jay S. Lee, and Rodney Preston Michel Disciplinary Decision
Feb 24, 2011 20070094345,20070111775 John E. Mullins and Kathleen M. Mullins Disciplinary Decision
Jan 7, 2011 2007009082902 Richard A. Neaton Disciplinary Decision
Jan 1, 2011 SD11002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2011 SD11004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2011 SD11006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2011 SD11007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2011 SD11008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2011 SD11001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2011 SD11003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2011 SD11005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Dec 28, 2010 2006007544401 M. Paul De Vietien Disciplinary Decision
Dec 22, 2010 2006005318801 Kent M. Houston Disciplinary Decision
Dec 17, 2010 2007009848801 Dante J. DiFrancesco Disciplinary Decision
Nov 30, 2010 20090196759 NAC Redacted Membership Decision 20090196759 Membership Decision
Oct 26, 2010 E102003025201 Robert Conway and Kakit Ng Disciplinary Decision
Oct 21, 2010 2006005696601 Westrock Advisors, Inc. Disciplinary Decision
Oct 15, 2010 2007008358101 Vincent P. McCrudden Disciplinary Decision
Oct 8, 2010 2005000879302 Legacy Trading Co., LLC and Mark Alan Uselton Disciplinary Decision
Oct 8, 2010 2008012026601 CMG Institutional Trading, LLC and Shawn D. Baldwin Disciplinary Decision
Sep 28, 2010 20090182345 In the Matter of the New Membership Application of Firm A Membership Decision
Aug 19, 2010 2006003834901 Moustafa M. Zayed Disciplinary Decision
Aug 18, 2010 EAF0400630001 Kevin L. Cohen, Dennis S. Kaminski, and Gari C. Sanfilippo Disciplinary Decision
Aug 18, 2010 20090173549 In the Matter of the Membership Continuance Application of Applicant Firm A Membership Decision
Jul 30, 2010 2007010306901 FCS Securities and Dale Kleinser Disciplinary Decision

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