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 Decisionsort ascending Proceeding No. Title Type
Jan 1, 2009 n/a In the Matter of Corporation K OTCBB, Redacted Decision
Dec 16, 2008 E9A2004048801 Brian J. Kelly Disciplinary Decision
Dec 12, 2008 C10040052 Scott Mathis Disciplinary Decision
Dec 10, 2008 E8A2005014902 North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
Oct 9, 2008 CMS030182 Richard F. Kresge Disciplinary Decision
Oct 6, 2008 2005001305701 Harvest Capital Investments, LLC and Dennis Cotto Disciplinary Decision
Oct 2, 2008 2005001819101 Domestic Securities Inc. Disciplinary Decision
Sep 23, 2008 CMS040202 Marshall J. Field Disciplinary Decision
Aug 26, 2008 CAF040058 Andrew Gonchar and Polyvios Polyviou Disciplinary Decision
Aug 20, 2008 E8A2002109804 Joseph A. Zaragoza Disciplinary Decision
Aug 15, 2008 E1020040926-01 America First Associates Corp. and Joseph Ricupero Disciplinary Decision
Aug 13, 2008 E8A2003091501 Roy M. Strong Disciplinary Decision
Aug 12, 2008 E102004083702 John C. Correro Disciplinary Decision
Aug 7, 2008 CMS040165 Ara Proudian Disciplinary Decision
May 20, 2008 C07050050 Stephen P. Dunbar Disciplinary Decision
Apr 30, 2008 CE3050003 American Fund Distributors, Inc. Disciplinary Decision
Apr 30, 2008 E9B2003026301 Carl Martin Trevisan Disciplinary Decision
Mar 12, 2008 CAF040052 Jericho Nicolas, Angel Cruz and Anthony Joseph Martinez Disciplinary Decision
Mar 7, 2008 2005002570601 Paul Douglas Paratore Disciplinary Decision
Feb 20, 2008 E8A20050252 CMG Institutional Trading, LLC and Shawn D. Baldwin Disciplinary Decision
Jan 8, 2008 CAF020048 Vincent M. Uberti Disciplinary Decision
Jan 4, 2008 C3B050012 Ronald Pellegrino Disciplinary Decision
Jan 1, 2008 SD08001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2008 SD08003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials