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, 1999 SD99020 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99022 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99024 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99025 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99011 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1999 SD99013 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1999 SD99018 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1999 SD99023 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1999 SD99026 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1999 SD99001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Dec 22, 1998 C10960149 Andrew Fensmark Harris Disciplinary Decision
Nov 18, 1998 C01960020 Daniel Wright Sisson Disciplinary Decision
Nov 13, 1998 C02960024 James Basil Peters Disciplinary Decision
Nov 11, 1998 C8A960094 Norman M. Merz Disciplinary Decision
Nov 3, 1998 C05930020 Donald R. Gates Disciplinary Decision
Oct 22, 1998 C07960105 Wayne B. Vaughan Disciplinary Decision
Oct 22, 1998 C9A960029 Pamela A. Hartsock Disciplinary Decision
Oct 22, 1998 C8A970040 Herbert L. Davis, Jr. Disciplinary Decision
Oct 22, 1998 C8A960081 In the Matter of District Business Conduct Committee For District No. 8, Complainant, vs. Respondent Firm 1 and Respondent 2 Disciplinary Decision, Redacted Decision

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