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. |
Title | Type | |
|---|---|---|---|---|
| Sep 18, 1998 | C05960074 | In the Matter of District Business Conduct Committee For District No. 5 Complainant, vs. Respondent | Disciplinary Decision, Redacted Decision | |
| Aug 16, 2001 | C05990026 | Christopher M. Block & Jeffrey S. Burke | Disciplinary Decision | |
| Aug 6, 2001 | C05990035 | John Lawson Greer, III | Disciplinary Decision | |
| Jul 30, 2004 | C06020003 | Eric H. Dieffenbach and Michel A. Rooms | Disciplinary Decision | |
| Feb 12, 2007 | C06040027 | Sterling Scott Lee and Dennis Todd Lloyd Gordon | Disciplinary Decision | |
| Aug 6, 1999 | C06910024 | In the Matter of District Business Conduct Committee For District No. 6 Complainant, vs. Respondent 1 | Disciplinary Decision, Redacted Decision | |
| Aug 6, 1999 | C06910024 | Toney L. Reed | Disciplinary Decision | |
| Jan 20, 1998 | C06950004 | Clinger & Co., Inc., & Norman E. Clinger | Disciplinary Decision | |
| Feb 9, 1999 | C06950029 | Frank J. Ingersoll | Disciplinary Decision | |
| Dec 3, 2001 | C07000003 | Jack H. Stein | Disciplinary Decision | |
| Jan 3, 2002 | C07000033 | Franklyn Ross Michelin & L.H. Ross & Co., Inc. | Disciplinary Decision | |
| May 13, 2003 | C07010037 | In the Matter of Department of Enforcement, Complainant vs. Respondent | Disciplinary Decision, Redacted Decision | |
| Feb 10, 2005 | C07030055 | PAZ Securities, Inc. and Joseph Mizrachi | Disciplinary Decision | |
| Feb 12, 2007 | C07040042 | John D. Kaweske | Disciplinary Decision | |
| Dec 12, 2005 | C07040077 | Dulce Maria Salaverria | Disciplinary Decision | |
| Jul 26, 2007 | C07050029 | Anthony Cipriano | Disciplinary Decision | |
| Sep 14, 2007 | C07050042 | Wanda P. Sears | Disciplinary Decision | |
| Jul 23, 2009 | C07050042 | Wanda P. Sears | Disciplinary Decision | |
| May 20, 2008 | C07050050 | Stephen P. Dunbar | Disciplinary Decision | |
| Dec 31, 1997 | C07930034 | Escalator Securities, Inc., & Howard A. Scala | Disciplinary Decision | |
| Feb 19, 1998 | C07930034 | Escalator Securities, Inc., & Howard A. Scala | Disciplinary Decision | |
| Nov 24, 1997 | C07950030 | In the Matter of Complainant 1, vs. Respondent Firm 1, and Respondent 2 | Disciplinary Decision, Redacted Decision | |
| Apr 7, 1999 | C07950054 | In the Matter of District Business Conduct Committee For District No. 7, Complainant, vs. Respondent 1 and Respondent 2 | Disciplinary Decision, Redacted Decision | |
| Jul 2, 1998 | C07950058 | International Trading Group, Inc., & Daniel E. Carter | Disciplinary Decision | |
| Jul 2, 1998 | C07950058 | In the Matter of District Business Conduct Committee For District No. 7 Complainant, vs. Respondent Firm 1 and Respondent 2 | Disciplinary Decision, Redacted Decision |