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.sort ascending Title Type Order No.
Aug 6, 2004 CLI030013 Hearing Panel Decision as to Respondent 1, 2, and 3 Redacted Decision
Jun 7, 2004 CLI030011 Hearing Panel Decision in Department of Enforcement v. Demetrios Zouloufis Disciplinary Decision
Oct 5, 2005 CLG050049 Order Regarding Attendance of Wittnesses' Counsel at Hearing Disciplinary Order 05-32
Mar 3, 2006 CLG050049 Hearing Panel Decision in Department of Market Regulation vs. Shawn E. Aaron Disciplinary Decision
Mar 7, 2006 CLG050048 Hearing Panel Decision in Department of Market Regulation v. Respondent Redacted Decision
Jan 17, 2006 CLG050021 Order Denying Complainant's Motion for Appointment of Market Regulation Panelist Disciplinary Order 06-10
Apr 11, 2007 CLG050021 Hearing Panel Decision in Department of Market Regulation v. John Patrick Leighton and Kenneth D. Pasternak Disciplinary Decision
Apr 25, 2006 CLG050021 Order Following Final Pre-Hearing Conference and Ruling on Motions in Limine Disciplinary Order 06-32
Apr 12, 2006 CLG050021 Order Partially Granting the Complainant's Motion to Disqualify Expert Witness Disciplinary Order 06-26
Mar 15, 2006 CLG050021 Order Denying Complainant's Motion to Continue Hearing Disciplinary Order 06-24
Jan 19, 2006 CLG050021 Order Establishing Procedure Governing Presentation of Expert Testimony Disciplinary Order 06-13
Dec 15, 2005 CE3050003 Order Deferring Ruling on Joint Motion for Leave to Offer Expert Testimony Disciplinary Order 05-42
Aug 30, 2006 CE3050003 Hearing Panel Decision in Department of Enforcement vs. American Funds Distributors, Inc. Disciplinary Decision
Sep 13, 2000 CAF990018 Hearing Panel Decision in Department of Enforcement v. Premier Capital Management, Bryan James O'Leary, and Ryan Mark Reynolds Disciplinary Decision
Dec 30, 1999 CAF990018 Order Denying Motion for Summary Disposition Disciplinary Order 99-21
May 5, 2000 CAF990007 Order Denying Respondents' Motion Seeking Leave to Introduce Expert Witness Testimony Disciplinary Order 00-11
Jun 28, 1999 CAF990007 Order Granting Respondents' Motion for Reconsideration Disciplinary Order 99-13
May 7, 1999 CAF980094 Hearing Panel Decision Redacted Decision
Mar 14, 1999 CAF980086 Hearing Panel Decision Redacted Decision
May 6, 1999 CAF980080 Hearing Panel Decision Redacted Decision
Feb 11, 2000 CAF980031 Hearing Panel Decision as to Respondent Redacted Decision
May 7, 1999 CAF980031 Order Denying Motions to Sever Disciplinary Order 99-09
Dec 21, 1998 CAF980025 Order Granting Partial Summary Disposition in Favor of the Department of Enforcement and Continuing This Proceeding for Hearing on Sanctions Disciplinary Order 98-32
Mar 14, 1999 CAF980025 Hearing Panel Decision in Department of Enforcement v. Richard Stephen Levitov; Hearing Panel Decision in Department of Enforcement v. Ralph Joseph Angeline Disciplinary Decision
Oct 2, 1998 CAF980022 Order Denying in Part and Granting in Part Enforcement's Motion to Strike Affirmative Defenses and Denying Motion to Dismiss Disciplinary Order 98-29

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