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|
|Apr 26, 2013||2008015934801||Alan Jay Davidofsky||Disciplinary Decision|
|Mar 23, 2017||2014040968501||APPEALED: Ahmed Gadelkareem||Disciplinary Decision|
|Mar 6, 1998||C07960085||Adam S. Levy||Disciplinary Decision|
|Sep 26, 2012||2007008239001||ACAP Financial Inc. and Gary Hume||Disciplinary Decision|
|Mar 6, 1998||C02970007||Aaron Eugene Granath||Disciplinary Decision|
|May 13, 1999||C10960208||A.S. Goldmen & Co., Inc., Anthony J. Marchiano, Stuart E. Winkler, & Stacy Meyers||Disciplinary Decision|