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 Decision Proceeding No. Titlesort descending Type
Aug 11, 1997 C01960005 Clyde Joseph Bruff Disciplinary Decision
May 3, 2010 2006006890801 CMG Institutional Trading LLC and Shawn D. Baldwin Disciplinary Decision
Feb 20, 2008 E8A20050252 CMG Institutional Trading, LLC and Shawn D. Baldwin Disciplinary Decision
Oct 8, 2010 2008012026601 CMG Institutional Trading, LLC and Shawn D. Baldwin Disciplinary Decision
Mar 8, 2017 SD-2117 Craig Scott Taddonio as a General Securities Representative with Meyers Associates, L.P. (n/k/a Windsor Street Capital, LP) Statutory Disqualification
Mar 20, 2002 C10000026 Damien R. Douglas Disciplinary Decision
May 24, 2007 C02040032 Dana N. Frankfort Disciplinary Decision
May 7, 2003 CAF010009 Dane S. Faber Disciplinary Decision
Apr 26, 2001 C9A990007 Daniel D. Manoff Disciplinary Decision
Dec 12, 2012 2008011701203 Daniel James Gallagher Disciplinary Decision
Nov 16, 2000 C11970032 Daniel Richard Howard Disciplinary Decision
Jun 15, 1999 C3A970031 Daniel S. Hellen Disciplinary Decision
Jul 25, 2007 C8A050055 Daniel W. Bukovcik Disciplinary Decision
Nov 18, 1998 C01960020 Daniel Wright Sisson Disciplinary Decision
Dec 17, 2010 2007009848801 Dante J. DiFrancesco Disciplinary Decision
Nov 20, 1997 C07960110 Darren L. Klemp Disciplinary Decision
Dec 1, 1997 C10960019 David A. Blech Disciplinary Decision
Mar 16, 2017 2013035211801 APPEALED: David Adam Elgart Disciplinary Decision
Mar 9, 2015 2011025899601 David and Sian Harari Disciplinary Decision
May 16, 2016 2010022977801 APPEALED: David B. Tysk Disciplinary Decision
Jul 20, 2017 2012034936005 David Joseph Escarcega Disciplinary Decision
Jun 3, 2014 2010023724601 David Kristian Evansen Disciplinary Decision
Sep 1, 2000 C8A990017 David L. Foran Disciplinary Decision
Apr 5, 2018 David P. Brown Statutory Disqualification, Approvals
Sep 7, 2004 C3B020015 Davrey Financial Services, Inc. Disciplinary Decision

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