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
May 20, 2008 C07050050 Stephen P. Dunbar Disciplinary Decision
Apr 30, 2008 CE3050003 American Fund Distributors, Inc. Disciplinary Decision
Apr 30, 2008 E9B2003026301 Carl Martin Trevisan Disciplinary Decision
Mar 12, 2008 CAF040052 Jericho Nicolas, Angel Cruz and Anthony Joseph Martinez Disciplinary Decision
Mar 7, 2008 2005002570601 Paul Douglas Paratore Disciplinary Decision
Feb 20, 2008 E8A20050252 CMG Institutional Trading, LLC and Shawn D. Baldwin Disciplinary Decision
Jan 8, 2008 CAF020048 Vincent M. Uberti Disciplinary Decision
Jan 4, 2008 C3B050012 Ronald Pellegrino Disciplinary Decision
Jan 1, 2008 SD08006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2008 SD08008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2008 SD08007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2008 SD08003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2008 SD08005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Dec 27, 2007 E8A2004095901 Jason A. Craig Disciplinary Decision
Dec 20, 2007 C9B040098 Scott Epstein Disciplinary Decision
Dec 14, 2007 C05050015 Kevin P. Calandro and James W. Browne Disciplinary Decision
Dec 4, 2007 C05020055 Michael F. Siegel Disciplinary Decision
Oct 18, 2007 C10030095 John Audifferen Disciplinary Decision
Oct 11, 2007 E0220030425-01 Geoffrey Ortiz Disciplinary Decision
Sep 28, 2007 200500631501 Bryan L. Claggett Disciplinary Decision
Sep 14, 2007 C07050042 Wanda P. Sears Disciplinary Decision
Aug 12, 2007 CAF030014 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision

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