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
Feb 18, 2005 FPI040007 Hearing Panel Decision in Department of Enforcement v. Elliot M. Hershberg Expedited Decision, Rule 9540 Suspension Decisions
Feb 6, 2008 E8A2003084806 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Feb 28, 2007 2005001514501 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Mar 23, 2016 2010024522103 APPEALED: Brett Ian Friedberg Disciplinary Decision
Dec 30, 2003 C3A030017 Hearing Panel Decision in Department of Enforcement v. Fox & Company Investments, Inc. and James W. Moldermaker Disciplinary Decision
Nov 6, 2017 2015048048801 Hank M. Werner and Legend Securities, Inc. Disciplinary Decision
Nov 5, 2013 2009019108901 Hearing Panel Decision in Department of Enforcement v. William Scholander and Talman Harris Disciplinary Decision
Jun 14, 2012 2009019369302 Amended Hearing Panel Decision in Department of Enforcement v. Jeff Ng Disciplinary Decision
Oct 11, 2016 2015044379701 Melissa M. Velasquez Disciplinary Decision
Mar 27, 2003 C3A010036 Hearing Panel Decision in Department of Enforcement v. Castle Securities Corp., Michael Studer, and Respondent 3 Disciplinary Decision
Jan 21, 2005 CMS040069 Hearing Panel Decision in Department of Enforcement vs. Nicholas R. Sciascia Disciplinary Decision
Jun 18, 2018 2016047565702 APPEALED: Bruce Martin Zipper and Dakota Securities International, Inc. Disciplinary Decision
Jan 4, 2013 FPI120005 Hearing Panel Decision in Department of Enforcement v. Gregory E. Goldstein Expedited Decision, Rule 9550 Expedited Decisions
May 15, 2006 CMS040202 Hearing Panel Decision in Department of Market Regulation vs. Marshall J. Field Disciplinary Decision
Dec 22, 2003 03-03 Hearing Panel Decision as to Respondent Redacted Decision
Nov 19, 1999 C8A990017 Hearing Panel Decision in Department of Enforcement v. David L. Foran Disciplinary Decision
May 24, 2005 C9A040024 Hearing Panel Decision in Department of Enforcement vs. Charles C. Fawcett, IV Disciplinary Decision
Mar 18, 2016 2012034719701 APPEALED: Paul E. Taboada Disciplinary Decision
Dec 29, 2003 C8B030012 Hearing Panel Decision in Department of Enforcement v. Mark F. Mizenko Disciplinary Decision
May 6, 1999 CAF980080 Hearing Panel Decision Redacted Decision
Dec 17, 2008 2006005318801 Hearing Panel Decision in Department of Enforcement v. Kent M. Houston Disciplinary Decision
Sep 20, 2016 2015044960501 APPEALED: Avenir Financial Group, Michael Todd Clements, and Karim Ahmed Ibrahim Disciplinary Decision
Jan 24, 2005 C9B040033 Hearing Panel Decision in Department of Enforcement vs. Robert M. Ryerson Disciplinary Decision
Mar 10, 2015 2011026788801 Keith Geary Disciplinary Decision
Jan 4, 2013 2010023349601 Hearing Panel Decision in Department of Enforcement v. Denise M. Olson Disciplinary Decision

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