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
Dec 14, 1999 C04990005 Bradford Lee Brinton Disciplinary Decision
Aug 13, 2002 C05010012 Wendell D. Belden Disciplinary Decision
May 6, 2003 C05010017 James S. Davenport Disciplinary Decision
May 11, 2007 C05020055 Michael F. Siegel Disciplinary Decision
Dec 4, 2007 C05020055 Michael F. Siegel Disciplinary Decision
Aug 28, 2006 C05030036 Sisung Securities Corporation Disciplinary Decision
Dec 14, 2007 C05050015 Kevin P. Calandro and James W. Browne Disciplinary Decision
Nov 3, 1998 C05930020 Donald R. Gates Disciplinary Decision
Oct 16, 2000 C05940077 John P. Goldsworthy Disciplinary Decision
Aug 28, 1997 C05950018 In the Matter of District Business Conduct Committee For District No. 5 Complainant, v. Respondent 1 Disciplinary Decision, Redacted Decision
Aug 28, 1997 C05950018 John M.W. Crute, Jr. Disciplinary Decision
Oct 10, 1997 C05960041 In the Matter of District Business Conduct Committee for District No. 5, Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Sep 18, 1998 C05960074 In the Matter of District Business Conduct Committee For District No. 5 Complainant, vs. Respondent Disciplinary Decision, Redacted Decision
Aug 16, 2001 C05990026 Christopher M. Block & Jeffrey S. Burke Disciplinary Decision
Aug 6, 2001 C05990035 John Lawson Greer, III Disciplinary Decision
Jul 30, 2004 C06020003 Eric H. Dieffenbach and Michel A. Rooms Disciplinary Decision
Feb 12, 2007 C06040027 Sterling Scott Lee and Dennis Todd Lloyd Gordon Disciplinary Decision
Aug 6, 1999 C06910024 In the Matter of District Business Conduct Committee For District No. 6 Complainant, vs. Respondent 1 Disciplinary Decision, Redacted Decision
Aug 6, 1999 C06910024 Toney L. Reed Disciplinary Decision
Jan 20, 1998 C06950004 Clinger & Co., Inc., & Norman E. Clinger Disciplinary Decision
Feb 9, 1999 C06950029 Frank J. Ingersoll Disciplinary Decision
Dec 3, 2001 C07000003 Jack H. Stein Disciplinary Decision
Jan 3, 2002 C07000033 Franklyn Ross Michelin & L.H. Ross & Co., Inc. Disciplinary Decision
May 13, 2003 C07010037 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision
Feb 10, 2005 C07030055 PAZ Securities, Inc. and Joseph Mizrachi Disciplinary Decision

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