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 descending Type
Oct 18, 1999 C07980011 Mark S. Balbirer Disciplinary Decision
Apr 20, 2000 C10970141 Marlowe Robert Walker, III Disciplinary Decision
Sep 23, 2008 CMS040202 Marshall J. Field Disciplinary Decision
Feb 27, 2007 C8A050027 Marylan Taylor Disciplinary Decision
Oct 3, 2018 2012033832501 Matthew David Rubin Disciplinary Decision
Mar 13, 2017 2011027926301 Matthew Joseph Sheerin Disciplinary Decision
Jan 28, 1999 C9A970018 Maximo J. Guevara Disciplinary Decision
May 2, 2012 2007007151101 Merrimac Corporate Securities, Inc. Disciplinary Decision
Apr 29, 2015 2009017195204 Merrimac Corporate Securities, Inc. Disciplinary Decision
May 26, 2017 2011027666902 APPEALED: Merrimac Corporate Securities, Inc., and Robert G. Nash Disciplinary Decision
Dec 22, 2017 2013035533701 APPEALED: Meyers Associates, L.P. Disciplinary Decision
Jan 4, 2018 2010020954501 APPEALED: Meyers Associates, L.P. (n/k/a Windsor Street Capital, L.P.) and Bruce Meyers Disciplinary Decision
Apr 18, 2000 C3A980069 Michael A. Usher Disciplinary Decision
Jul 9, 1999 CMS960238 Michael B. Jawitz Disciplinary Decision
Apr 6, 2016 SD-2010 Michael C. Furman with Citigroup Global Markets, Inc. Statutory Disqualification, Approvals
Jul 27, 2015 2011027993301 APPEALED: Michael Earl McCune Disciplinary Decision
Aug 28, 1997 C02950053 Michael Edgar Goldstein, Jeffrey B. Goodman, Jason Scott Neu, William Reininger, & Joseph Patrick Hannan Disciplinary Decision
Jun 4, 2001 C8A980097 Michael F. Flannigan & Protective Group Securities Corporation Disciplinary Decision
Dec 4, 2007 C05020055 Michael F. Siegel Disciplinary Decision
May 11, 2007 C05020055 Michael F. Siegel Disciplinary Decision
Feb 5, 2001 C10970145 Michael Galasso, Jr., Gerard McMahon, John Montelbano, Dwayne Leverett, & Todd Nejaime Disciplinary Decision
Jul 13, 1998 CMS920091 Michael J. Markowski & Joseph F. Riccio Disciplinary Decision
Aug 25, 2009 2006005565401 Michael L. Vines Disciplinary Decision
Jun 4, 1998 C07970024 Michael L. Yancey Disciplinary Decision
May 6, 2011 2005003437102 Michael Lee Bullock Disciplinary Decision