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.sort descending Title Type
Feb 22, 2013 2006005318801 Kent M. Houston Disciplinary Decision
Jul 25, 2013 20060053785-02 Robert N. Drake Disciplinary Decision
Aug 25, 2009 2006005565401 Michael L. Vines Disciplinary Decision
Oct 21, 2010 2006005696601 Westrock Advisors, Inc. Disciplinary Decision
Aug 1, 2012 2006005786501 Joseph A. Padilla and Andrea M. Ritchie(f/k/a Andrea M. Bruno) Disciplinary Decision
Jul 31, 2007 20060058633 NAC Redacted Membership Decision 20060058633 Membership Decision
Oct 3, 2011 2006005977901 Kale E. Evans Disciplinary Decision
Dec 18, 2009 2006006192901 Denis William Kraemer, Jr. Disciplinary Decision
Oct 6, 2009 2006006705601 John M. Saad Disciplinary Decision
Mar 16, 2015 2006006705601r APPEALED: John M.E. Saad Disciplinary Decision
May 3, 2010 2006006890801 CMG Institutional Trading LLC and Shawn D. Baldwin Disciplinary Decision
Dec 28, 2010 2006007544401 M. Paul De Vietien Disciplinary Decision
May 2, 2012 2007007151101 Merrimac Corporate Securities, Inc. Disciplinary Decision
Sep 14, 2012 2007007792902 Edward S. Brokaw Disciplinary Decision
Dec 26, 2013 20070082049 Robert Marcus Lane and Jeffrey G. Lane Disciplinary Decision
Sep 26, 2012 2007008239001 ACAP Financial Inc. and Gary Hume Disciplinary Decision
Oct 15, 2010 2007008358101 Vincent P. McCrudden Disciplinary Decision
Jan 7, 2011 2007009082902 Richard A. Neaton Disciplinary Decision
Dec 28, 2011 2007009403801 Stephen W. Wilson Disciplinary Decision
Dec 11, 2014 20070094044 APPEALED: Wedbush Securities, Inc. and Edward William Wedbush Disciplinary Decision
Feb 24, 2011 20070094345,20070111775 John E. Mullins and Kathleen M. Mullins Disciplinary Decision
Aug 5, 2011 20070094468 Dirk Allen Taylor Disciplinary Decision
Dec 17, 2010 2007009848801 Dante J. DiFrancesco Disciplinary Decision
Oct 4, 2011 2007009981201 Robert D. Tucker Disciplinary Decision
Feb 26, 2013 2007010158001 CapWest Securities, Inc.: Appealed Disciplinary Decision

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