Office of Hearing Officers

The Office of Hearing Officers is an office of impartial adjudicators of disciplinary cases brought by FINRA’s Department of Enforcement 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. Title Type Order No.sort descending
Mar 4, 2002 C05010017 Hearing Panel Decision in Department of Enforcement v. James S. Davenport Disciplinary Decision
May 14, 2008 20060049953-01 Hearing Panel Decision in Department of Enforcement v. Joseph Ricupero Disciplinary Decision
Mar 3, 2006 CAF030014 CALLED FOR REVIEW: Extended Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Sep 28, 2004 C8A030099 Hearing Panel Decision in Department of Enforcement v. Timothy J. Duma Disciplinary Decision
Jun 1, 1999 ARB990008 Non-Summary Suspension Proceeding ARB990008 Expedited Decision, Non-Summary Proceeding
Apr 12, 2007 E1020040926-01 Hearing Panel Decision in Department of Enforcement v. Respondents Redacted Decision
Sep 14, 2018 2014039775501 James Randall Clay Disciplinary Decision
Mar 9, 2015 2012030724101 APPEALED: Fox Financial Management Corporation, Brian A. Murphy, and James E. Rooney, Jr. Disciplinary Decision
May 26, 2017 2014040295201 Carolina Financial Securities, LLC, and Bruce Victor Roberts Disciplinary Decision
May 7, 1999 CAF980094 Hearing Panel Decision Redacted Decision
Oct 2, 2015 2011025679201 MSC – BD, LLC and Paul J. McIntyre Disciplinary Decision
Nov 30, 2007 E8A2005014902 Hearing Panel Decision in Department of Enforcement v. North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
Mar 30, 2012 2008015934801 Hearing Panel Decision in Department of Enforcement v. Alan J. Davidofsky Disciplinary Decision
Jul 25, 2001 ARB010018 Non-Summary Suspension Consolidated Proceeding ARB010018 Expedited Decision, Non-Summary Proceeding
Sep 8, 2006 E072004072501 Hearing Panel Decision in Department of Enforcement vs. Andrew J. Hardin Disciplinary Decision
Aug 11, 2014 2009019042402 Extended Hearing Panel Decision in Department of Enforcement v. James E. Rooney, Jr. Disciplinary Decision
Dec 12, 2016 2013036653301 Vincent Au Disciplinary Decision
Sep 8, 2003 03-02 Hearing Panel Decision as to Respondent Redacted Decision
Mar 7, 2006 CLG050048 Hearing Panel Decision in Department of Market Regulation v. Respondent Redacted Decision
Dec 3, 2003 CMS030006 Hearing Panel Decision in Department of Enforcement v. Castle Securities Corp. Disciplinary Decision
Aug 5, 2005 C3A040023 Hearing Panel Decision in Department of Enforcement vs. John M. Meyers, Brian C. Klein & Israel E. Lozada Disciplinary Decision
Feb 17, 2000 C10990024 Hearing Panel Decision in Department of Enforcement v. Averell Golub Disciplinary Decision
Mar 30, 2007 20042000056-01 Hearing Panel Decision in Department of Market Regulation v. Respondent Redacted Decision
Oct 29, 2018 FPI180004 Jessica Bower Blake Expedited Decision
Mar 17, 2015 2011027271901 Richard Blair Disciplinary Decision

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