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 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 APPEALED: 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
Dec 21, 2017 2011027007901 Shashishekhar Doni Disciplinary Decision
Jul 25, 2014 2011027007901 APPEALED: 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
May 23, 2019 2014039285401 Southeast Investments, N.C., Inc. and Frank Harmon Black 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
Aug 1, 2018 SD-2180 State Street Global Markets, LLC Statutory Disqualification, Approvals
Dec 13, 2001 C10000165 Stephen D. Carcaterra Disciplinary Decision
Dec 18, 2000 C10990014 Stephen Earl Prout Disciplinary Decision
Jul 16, 2015 2012032997201 APPEALED: Stephen Grivas Disciplinary Decision
Jan 23, 1998 C02960042 Stephen J. Gluckman Disciplinary Decision
May 20, 2008 C07050050 Stephen P. Dunbar Disciplinary Decision
Dec 28, 2011 2007009403801 Stephen W. Wilson Disciplinary Decision
Feb 12, 2007 C06040027 Sterling Scott Lee and Dennis Todd Lloyd Gordon Disciplinary Decision
Aug 25, 1998 C07960069 Steven A. Kirschbaum Disciplinary Decision
Apr 21, 1999 C9B960013 Steven D. Goodman Disciplinary Decision