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.sort descending Title Type
Mar 28, 2018 2011030293503 Richard Gomez Disciplinary Decision
Aug 3, 2017 2012030527503 APPEALED: Thaddeus James North Disciplinary Decision
May 23, 2018 2012030564701 Newport Coast Securities, Inc., Andre La Barbera, Douglas Leone Disciplinary Decision
Jan 6, 2017 2012030724101 Fox Financial Management Corporation, Brian A. Murphy, James E. Rooney, Jr. Disciplinary Decision
Oct 11, 2018 2012030731802 William H. Murphy & Co., Inc., and William H. Murphy Disciplinary Decision
Jul 24, 2017 20120320803-01 Shiva Naby Disciplinary Decision
Oct 3, 2016 2012032519101 Robert Earl Holaday Disciplinary Decision
Sep 25, 2015 2012032950101 APPEALED: Joseph R. Butler Disciplinary Decision
Jul 16, 2015 2012032997201 APPEALED: Stephen Grivas Disciplinary Decision
Jul 18, 2016 2012033351801 Paolo Franca Iida Disciplinary Decision
Jan 10, 2017 2012033362101 Thomas Edmund Connors Disciplinary Decision
Oct 3, 2018 2012033832501 Matthew David Rubin Disciplinary Decision
Sep 25, 2015 2012034211301 APPEALED: Fuad Ahmed Disciplinary Decision
Jul 18, 2016 2012034389202 APPEALED: Bernard G. McGee Disciplinary Decision
May 23, 2018 2012034393801 Aon Miller Disciplinary Decision
Jul 24, 2017 2012034719701 APPEALED: Paul E. Taboada Disciplinary Decision
Jul 20, 2017 2012034936005 David Joseph Escarcega Disciplinary Decision
May 12, 2017 2012034936101 Jeffrey D. Noard Disciplinary Decision
Mar 16, 2017 2013035211801 APPEALED: David Adam Elgart Disciplinary Decision
Dec 22, 2017 2013035533701 APPEALED: Meyers Associates, L.P. Disciplinary Decision
Jan 13, 2017 2013036799501 J. Michael Casas Disciplinary Decision
Oct 4, 2018 2013037401001 Stanley Clayton Niekras Disciplinary Decision
Oct 2, 2014 20130379350 APPEALED: Bering Strait Securities, Inc. Membership Decision
Oct 5, 2017 2013038986001 APPEALED: Richard Allen Riemer, Jr. Disciplinary Decision
Mar 19, 2018 2014040876001 Kenneth J. Mathieson Disciplinary Decision

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