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
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
Apr 7, 1999 C07950054 In the Matter of District Business Conduct Committee For District No. 7, Complainant, vs. Respondent 1 and Respondent 2 Disciplinary Decision, Redacted Decision
Aug 22, 1997 C8A960074 In the Matter of District Business Conduct Committee For District No. 8 Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Jan 7, 1998 C8A960029 In the Matter of District Business Conduct Committee For District No. 8 Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Jul 22, 1998 C8B960042 In the Matter of District Business Conduct Committee For District No. 8, Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Oct 13, 1998 C8A960052 In the Matter of District Business Conduct Committee For District No. 8, Complainant, vs. Respondent 1 and Respondent 2 Disciplinary Decision, Redacted 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
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
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
Oct 22, 1998 C9A960029 In the Matter of District Business Conduct Committee For District No. 9, Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Dec 1, 1997 CMS950042 In the Matter of Market Regulation Committee Complainant, v. Respondent 1 Disciplinary Decision, Redacted Decision
Feb 7, 2000 CMS950041 In the Matter of Market Regulation Committee, Complainant, vs. Respondent 1 and Respondent Firm 2 Disciplinary Decision, Redacted Decision
Dec 23, 1997 CMS960247 In the Matter of Market Regulation Committee, Complainant, vs. Respondent Firm 1 Disciplinary Decision, Redacted Decision
Jan 1, 2004 SD04013 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04007 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, 1997 SD97002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2007 SD07003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2010 SD10001 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, 2008 SD08005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2006 SD06015 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01014 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2008 SD08003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials

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