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
Feb 15, 2013 2008014621701 Thomas Weisel Partners, LLC and Stephen H. Brinck, Jr. Disciplinary Decision
Oct 27, 2005 C8A030099 Timothy J. Duma Disciplinary Decision
Apr 25, 2003 CAF010013 Timothy J. Ryan Disciplinary Decision
May 17, 2001 C8A990025 Timothy James Fergus, Frank Thomas Devine, & Richard Alan Blake Disciplinary Decision
Feb 4, 2013 2009017439601 Timothy Joseph Golonka Disciplinary Decision
May 18, 2005 C8A030068 Todd Grafenauer Disciplinary Decision
Aug 6, 1999 C06910024 Toney L. Reed Disciplinary Decision
May 21, 2003 FPI010004 Toni Valentino Disciplinary Decision
Sep 9, 2003 C01000003 U.S. Rica Financial, Inc. and Vinh Huu Nguyen Disciplinary Decision
May 7, 2014 SD-1757, SD-1758, & SD-1896 UBS Financial Services, Inc., and UBS Securities, LLC Statutory Disqualification, Approvals
Dec 1, 1997 CMS950042 Victor H. Palma, Jr. Disciplinary Decision
Jan 1, 2001 SD01011 View Decision Approvals, Statutory Disqualification, Redacted Decision
Aug 11, 2003 C10000122 Vincent J. Puma Disciplinary Decision
Oct 21, 2002 C10000122 Vincent J. Puma Disciplinary Decision
Apr 14, 2000 CMS960174 Vincent M. Carrella Disciplinary Decision
Mar 9, 2006 CAF020048 Vincent M. Uberti Disciplinary Decision
Jan 8, 2008 CAF020048 Vincent M. Uberti Disciplinary Decision
Oct 15, 2010 2007008358101 Vincent P. McCrudden Disciplinary Decision
Aug 12, 1997 CMS950129 Vladislav Steven Zubkis Disciplinary Decision
Dec 2, 2004 C02020055 VMR Capital Markets US Disciplinary Decision
Sep 14, 2007 C07050042 Wanda P. Sears Disciplinary Decision
Jul 23, 2009 C07050042 Wanda P. Sears Disciplinary Decision
Jul 28, 2015 2009016159102 Warren Forest Disciplinary Decision
Aug 22, 1997 CMS920002 Warren R. Schreiber & Marian S. Gargano Disciplinary Decision
Oct 22, 1998 C07960105 Wayne B. Vaughan Disciplinary Decision

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