Office of Hearing Officers

The Office of Hearing Officers is an office of impartial adjudicators of disciplinary cases brought by FINRA's Enforcement Department or Market Regulation Department against FINRA members.

The Office of Hearing Officers maintains strict independence from FINRA's regulatory programs and is physically separated from other FINRA departments.

Hearing officers are not involved in the investigative process. Employment protections exist for hearing officers to further ensure their independence; they may not be terminated except by the FINRA Chief Executive Officer, with a right to appeal to the Audit Committee of FINRA's Board of Governors.

View:  Orders and Decisions Chronologically  |  Orders by Topic  |  Orders by Rule
Date of Decision Proceeding No.sort descending Title Type Order No.
Aug 19, 2003 03-01 Hearing Panel Decision as to Respondent Redacted Decision
Sep 8, 2003 03-02 Hearing Panel Decision as to Respondent Redacted Decision
Dec 22, 2003 03-03 Hearing Panel Decision as to Respondent Redacted Decision
May 28, 2010 200011592201 Order Denying Respondents' Motion for Leave to Offer Expert Testimony Disciplinary Order 10-03
Mar 30, 2007 20042000056-01 Hearing Panel Decision in Department of Market Regulation v. Respondent Redacted Decision
Oct 9, 2006 20042000056-01 Order Deferring Ruling on Motion for Summary Disposition Disciplinary Order 06-45
May 3, 2007 2005000029202 Initial Case-Management Order Disciplinary Order 07-17
Jul 30, 2007 20050000720-02 Order Overruling the Parties' Objections to Exhibits and Witnesses Disciplinary Order 07-31
Dec 11, 2007 20050000720-02 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Jun 26, 2007 20050000720-02 Order Denying Respondent 2's Motion to Compel Production of Documents and Directing Respondent 2 to Supplement His Motion for a Rule 9252 Order Disciplinary Order 07-25
Jun 13, 2007 20050000720-02 Order Prohibiting Use of Subpoenas Disciplinary Order 07-24
May 12, 2009 2005000075703 Amended Extended Hearing Panel Decision in Department of Enforcement v. Midas Securities LLC, World Trade Financial Corporation, Jason Troy Adams, Frank Edward Brickell, Jay S. Lee and Rodney Preston Michel Disciplinary Decision
May 25, 2007 2005000078501 Hearing Panel Decision in Department of Market Regulation v. Mark Allen Borsky Disciplinary Decision
Feb 13, 2007 2005000094001 Order Denying Respondents' Motion for Leave to Offer Expert Testimony Disciplinary Order 07-03
Oct 31, 2006 2005000127502 Order Following Final Pre-Hearing Conference Modifying Order Precluding Respondents from Introducing Evidence at the Hearing and Dismissing the Third Cause of Complaint Disciplinary Order 06-50
Oct 20, 2006 2005000127502 Order Denying Complainant's Motion for Partial Summary Disposition Disciplinary Order 06-48
Apr 24, 2007 2005000127502 Hearing Panel Decision in Department of Market Regulation v. Steven Richard Jaloza, Neal Anthony Impellizeri, and Michael Raymond Gimeli Disciplinary Decision
Sep 20, 2010 2005000171202 Hearing Panel Decision in Department of Market Regulation v. Respondent Redacted Decision
Apr 30, 2008 2005000191701 Hearing Panel Decision in Department of Market Regulation v. Paul M. Giarmoleo Disciplinary Decision
Jun 12, 2007 2005000191701 Order Denying Respondent 3's Two Discovery Requests Disciplinary Order 07-22
Dec 15, 2006 2005000315901 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Feb 15, 2007 2005000316701 Order Ruling on Department of Enforcement's (1) Objections to Witnesses and Documents, (2) Motion to Partially Strike Respondents' Pre-Hearing Brief, (3) Motion in Limine, and (4) Motion for Ruling on the Admissibility of Documents and Business Records Disciplinary Order 07-04
Feb 16, 2007 2005000316701 Order Ruling on Respondents' Motions to Strike Department of Enforcement's Exhibits Disciplinary Order 07-05
Mar 7, 2007 2005000316701 Order Granting Motion to Compel or Alternatively to Preclude Oral or Documentary Evidence Disciplinary Order 07-09
Nov 16, 2006 2005000316701 Order (1) Granting Complainant's Motion in Limine; (2) Denying Complainant's Motion to Sequester Witnesses, Without Prejudice; (3) Denying Respondents' Motions to Dismiss; (4) Denying Respondents' Motion to Strike; (5) Granting, in Part, Respondents' Motion To Preclude; (6) Denying, in Part, and Deferring, in Part, Respondents' Motion For Leave to Present Expert Testimony and (7) Denying Respondents' Motion for Leave to File a Compilation of Motions, Briefs and Rulings Disciplinary Order 06-55

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