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 Decision Proceeding No. Titlesort ascending Type
Jul 20, 2016 SD-2044 Xavier Capdepon Statutory Disqualification, Denials
Mar 15, 2017 2011025444501 Wood (Arthur W.) Company, Inc. Disciplinary Decision
Dec 29, 2014 2009019108901 APPEALED: William Scholander and Talman Harris Disciplinary Decision, Redacted Decision
Oct 20, 2011 2005003610701 William J. Murphy, Carl M. Birkelbach, and Birkelbach Investment Securities, Inc. Disciplinary Decision
Feb 21, 2014 2011029152401 William Bruce Smith Disciplinary Decision
Dec 17, 2015 2010024889501 William B. Fretz, Jr, John P. Freeman and The Keystone Equities Group, LP Disciplinary Decision
Oct 21, 2010 2006005696601 Westrock Advisors, Inc. Disciplinary Decision
Aug 13, 2002 C05010012 Wendell D. Belden Disciplinary Decision
Oct 2, 2014 SD-1798 Wells Fargo Advisors, LLC Statutory Disqualification, Approvals
Dec 11, 2014 20070094044 APPEALED: Wedbush Securities, Inc. and Edward William Wedbush Disciplinary Decision
Apr 6, 2000 C07960105 Wayne B. Vaughan Disciplinary Decision
Oct 22, 1998 C07960105 Wayne B. Vaughan Disciplinary Decision
Aug 22, 1997 CMS920002 Warren R. Schreiber & Marian S. Gargano Disciplinary Decision
Jul 28, 2015 2009016159102 Warren Forest Disciplinary Decision
Sep 14, 2007 C07050042 Wanda P. Sears Disciplinary Decision
Jul 23, 2009 C07050042 Wanda P. Sears Disciplinary Decision
Dec 2, 2004 C02020055 VMR Capital Markets US Disciplinary Decision
Aug 12, 1997 CMS950129 Vladislav Steven Zubkis Disciplinary Decision
Oct 15, 2010 2007008358101 Vincent P. McCrudden Disciplinary Decision
Mar 9, 2006 CAF020048 Vincent M. Uberti Disciplinary Decision
Jan 8, 2008 CAF020048 Vincent M. Uberti Disciplinary Decision
Apr 14, 2000 CMS960174 Vincent M. Carrella Disciplinary Decision
Aug 11, 2003 C10000122 Vincent J. Puma Disciplinary Decision
Oct 21, 2002 C10000122 Vincent J. Puma Disciplinary Decision
Jan 1, 2001 SD01011 View Decision Approvals, Statutory Disqualification, Redacted Decision

Pages