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
Jul 9, 1998 C01970012 In the Matter of District Business Conduct Committee for District No. 1, Complainant, vs. Respondent Firm 1 and Respondent 2 Disciplinary Decision, Redacted Decision
Jul 8, 1998 C10970007 Lawrence P. Bruno, Jr. Disciplinary Decision
Jul 2, 1998 C07950058 International Trading Group, Inc., & Daniel E. Carter Disciplinary Decision
Jul 2, 1998 C01970017 Glen McKinley Richars, III Disciplinary Decision
Jul 2, 1998 C01970012 Monterey Bay Securities, Inc., & Kenneth Mark Doolittle Disciplinary Decision
Jul 2, 1998 C07950058 In the Matter of District Business Conduct Committee For District No. 7 Complainant, vs. Respondent Firm 1 and Respondent 2 Disciplinary Decision, Redacted Decision
Jul 1, 1998 C07970051 Richard Timothy Greene Disciplinary Decision
Jun 29, 1998 No Complaint Number Carlisle Investment Group, Ltd. Disciplinary Decision
Jun 12, 1998 C9B950010 Eliezer Gurfel Disciplinary Decision
Jun 12, 1998 C10930017 Rafael Pinchas Disciplinary Decision
Jun 10, 1998 C3A960009 In the Matter of District Business Conduct Committee for District No. 3, Complainant, vs. Respondent Firm and Mr. Robert L. Stevens Disciplinary Decision, Redacted Decision
Jun 4, 1998 C07970024 Michael L. Yancey Disciplinary Decision
May 13, 1998 C3A960040 In the Matter of District Business Conduct Committee for District No. 3, Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Mar 22, 1998 C8A960040 Podesta & Co. & Carol P. Foley Disciplinary Decision
Mar 22, 1998 C8A960040 In the Matter of District Business Conduct Committee For District No. 8, Complainant, vs. Respondent Firm 1, and Respondent 2 Disciplinary Decision, Redacted Decision
Mar 12, 1998 C3A960040 Cindy M. Goldberg Disciplinary Decision
Mar 6, 1998 C02970007 Aaron Eugene Granath Disciplinary Decision
Mar 6, 1998 C07960085 Adam S. Levy Disciplinary Decision
Feb 27, 1998 CMS950110 La Jolla Capital Corp. & Harold Bailey Gallison, Jr. Disciplinary Decision
Feb 19, 1998 C07930034 Escalator Securities, Inc., & Howard A. Scala Disciplinary Decision
Feb 3, 1998 CMS960085 James T. Patten & Greater Metropolitan Investment Services, Inc. Disciplinary Decision
Jan 23, 1998 C3B960004 Otto M. Bruun Disciplinary Decision
Jan 23, 1998 C02960042 Stephen J. Gluckman Disciplinary Decision
Jan 23, 1998 C07960009 James S. Pritula Disciplinary Decision
Jan 22, 1998 C07960091 Robert L. Wallace Disciplinary Decision

Pages