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, 2001 SD01005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2001 SD01012 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD010004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2001 SD01013 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01019 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01024 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01025 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01017 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01001 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2001 SD01023 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01020 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Dec 18, 2000 C10990014 Stephen Earl Prout Disciplinary Decision
Nov 17, 2000 C10990024 Averell Golub Disciplinary Decision
Nov 16, 2000 C11970032 Daniel Richard Howard Disciplinary Decision
Nov 16, 2000 C3A990050 Jim Newcomb Disciplinary Decision
Nov 13, 2000 C10970176 Robert Fitzpatrick Disciplinary Decision
Nov 6, 2000 C8A980059 In the Matter of Department of Enforcement, Complainant v. Respondent 1 and Respondent 2 Disciplinary Decision, Redacted Decision
Oct 16, 2000 C05940077 John P. Goldsworthy Disciplinary Decision
Sep 1, 2000 C8A990017 David L. Foran Disciplinary Decision
Aug 16, 2000 CAF980005 Howard R. Perles & Laurence M. Geller Disciplinary Decision
Jun 28, 2000 CAF970011 Richard Steven Levitov & Ralph Joseph Angeline Disciplinary Decision
Jun 19, 2000 C9A980032 In the Matter of Department of Enforcement, Complainant v. Respondent 1 Disciplinary Decision, Redacted Decision
Jun 2, 2000 CAF980029 Aleksandr Shvarts Disciplinary Decision
Jun 1, 2000 CMS970027 Jerome E. Rosen Disciplinary Decision

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