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
Dec 11, 2014 SD-1997 Ronald M. Berman Statutory Disqualification, Denials
Jan 4, 2008 C3B050012 Ronald Pellegrino Disciplinary Decision
Aug 12, 2004 C9B020032 Rooney A. Sahai Disciplinary Decision
Mar 2, 2006 C9B020032 Rooney A. Sahai Disciplinary Decision
Dec 22, 2015 2010025350001 Roric E. Griffith Disciplinary Decision
Aug 13, 2008 E8A2003091501 Roy M. Strong Disciplinary Decision
Oct 3, 2005 FPI040002 Ryan & Company, LP and Scott W. Ryan Disciplinary Decision
Feb 24, 2012 2007011489301 Ryan A. Leopold Disciplinary Decision
Jun 22, 2001 CAF990018 Ryan Mark Reynolds Disciplinary Decision
Mar 23, 2017 SD-2138 Sandra M. Logay with Mid Atlantic Capital Corporation Statutory Disqualification, Approvals
Oct 18, 2005 C8A030078 Scott E. Wiard & James D. Reisinger Disciplinary Decision
Dec 20, 2007 C9B040098 Scott Epstein Disciplinary Decision
Dec 12, 2008 C10040052 Scott Mathis Disciplinary Decision
Apr 30, 2015 SD-1960 Scott Mathis with DPEC, Inc. Statutory Disqualification, Approvals
Jul 20, 2018 2014041724601 Scottsdale Capital Advisors Corporation, John Joseph Hurry, Timothy Brian DiBlasi, and Darrel Michael Cruz Disciplinary Decision
Sep 14, 2016 SD-2104 SD-2104 Edwin Kantor with S2K Financial LLC Statutory Disqualification, Approvals
May 17, 2001 C02990052 Shailesh B. Patel Disciplinary Decision
Aug 5, 1997 C9A960002 Shamrock Partners, Ltd. & James T. Kelly Disciplinary Decision
Jul 25, 2014 2011027007901 APPEALED: Shashishekhar Doni Disciplinary Decision
Dec 21, 2017 2011027007901 Shashishekhar Doni Disciplinary Decision
Jul 24, 2017 20120320803-01 Shiva Naby Disciplinary Decision
May 14, 2014 2011025674101 Shlomi S. Eplboim Disciplinary Decision
Aug 28, 2006 C05030036 Sisung Securities Corporation Disciplinary Decision
Oct 4, 2018 2013037401001 Stanley Clayton Niekras Disciplinary Decision
Aug 1, 2018 SD-2179 State Street Global Advisors Funds Distributors, LLC Statutory Disqualification, Approvals

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