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
Nov 3, 1999 C04970050 Ansula Pet Hwa Liu Disciplinary Decision
Nov 3, 1999 C02970018 In the Matter of District Business Conduct Committee For District No. 2, Complainant, vs. Respondent Disciplinary Decision, Redacted Decision
Oct 31, 1999 CAF980025 Richard Stephen Levitov & Ralph Joseph Angeline Disciplinary Decision
Oct 18, 1999 C07980011 Mark S. Balbirer Disciplinary Decision
Aug 20, 1999 C01970028 In the Matter of District Business Conduct Committee For District No. 1, Complainant, vs. Respondent Firm 1 and Respondent 2 Disciplinary Decision, Redacted Decision
Aug 12, 1999 C01970032 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision
Aug 12, 1999 C07980019 John D. Morgan Disciplinary Decision
Aug 9, 1999 C01970001 Joel Dean Moore 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 C8B970010 District Business Conduct Committee For District No. 8, Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Aug 6, 1999 C06910024 Toney L. Reed Disciplinary Decision
Jul 9, 1999 CMS960238 Michael B. Jawitz Disciplinary Decision
Jul 8, 1999 C3A960033 Brian Prendergast Disciplinary Decision
Jul 7, 1999 C3A960029 Kevin D. Kunz & Kunz & Cline Inc. Management, Inc. Disciplinary Decision
Jun 28, 1999 C8A970015 Kevin Lee Otto Disciplinary Decision
Jun 15, 1999 C3A970031 Daniel S. Hellen Disciplinary Decision
Jun 14, 1999 C10970176 Robert Fitzpatrick Disciplinary Decision
Jun 10, 1999 CMS960194 J.C. Bradford & Co. Disciplinary Decision
Jun 4, 1999 C3A950031 In the Matter of District Business Conduct Committee For District No. 3 Complainant, vs. Respondent Firm 1 and Respondent 2 Disciplinary Decision, Redacted Decision
May 13, 1999 C07980027 Stuart G. Horowitz Disciplinary Decision
May 13, 1999 C10960208 A.S. Goldmen & Co., Inc., Anthony J. Marchiano, Stuart E. Winkler, & Stacy Meyers Disciplinary Decision
Apr 28, 1999 C8A960054 In the Matter of District Business Conduct Committee For District No. 8, Complainant, vs. Respondent Firm 1, Respondent 2, Respondent 3, and Respondent 4 Disciplinary Decision, Redacted Decision
Apr 21, 1999 C9B960013 Steven D. Goodman Disciplinary Decision
Apr 19, 1999 C01970025 Gregory Paul Maggipinto Disciplinary Decision
Apr 9, 1999 C10970156 Andrew D. Schiff Disciplinary Decision

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