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
Dec 10, 2004 CMS030182 Hearing Panel Decision in Department of Enforcement v. Yankee Financial Group, Inc. Disciplinary Decision
May 30, 2013 2010024889501 Extended Hearing Panel Decision in Department of Enforcement v. William B. Fretz, Jr., John P. Freeman, and The Keystone Equities Group, LP Disciplinary Decision
Aug 10, 2006 C07050029 Hearing Panel Decision in Department of Enforcement vs. Anthony Cipriano 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 16, 2009 E072005017201 Hearing Panel Decision in Department of Enforcement v. John B. Busacca III Disciplinary Decision
Aug 3, 1999 ARB990014 Non-Summary Suspension Proceeding ARB990014 Expedited Decision, Non-Summary Proceeding
Apr 6, 2005 C9B040020 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision
Jun 8, 2015 ARB140066 Michael Albert DiPietro Expedited Decision, Rule 9550 Expedited Decisions
Dec 22, 2003 03-03 Hearing Panel Decision as to Respondent Redacted Decision
Dec 21, 2005 C01050008 Hearing Panel Decision as to Respondent Redacted Decision
Mar 18, 2016 2012034719701 APPEALED: Paul E. Taboada Disciplinary Decision
Apr 5, 2018 2015044600801 Gerard Chandler Gremillion Disciplinary Decision
May 27, 2004 C8A030068 Hearing Panel Decision in Department of Enforcement v. Todd Grafenauer Disciplinary Decision
Dec 29, 2003 C8B030012 Hearing Panel Decision in Department of Enforcement v. Mark F. Mizenko Disciplinary Decision
Apr 25, 2008 CAF040079 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Jan 28, 2002 ARB010016 Non-Summary Suspension Consolidated Proceeding ARB010016 Expedited Decision, Non-Summary Proceeding
Sep 30, 2003 FPI030003 Hearing Panel Decision in Department of Enforcement v. Stanley M. Wise Expedited Decision, Rule 9540 Suspension Decisions
Oct 11, 2016 2015044379701 Melissa M. Velasquez Disciplinary Decision
Nov 14, 2018 2014041862701 APPEALED: Spencer Edwards, Inc. Disciplinary Decision
Nov 12, 2018 2015047303901 APPEALED: Kyle P. Harrington and Linda C. Milberger Disciplinary Decision
Aug 27, 2004 CAF030042 Hearing Panel Decision as to Respondent Redacted Decision
Aug 13, 2013 2009016159102 Amended Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Aug 10, 2006 C07050050 Hearing Panel Decision in Department of Enforcement vs. Stephen P. Dunbar Disciplinary Decision
Oct 12, 2004 CAF040020 Order Ruling On Pre-Hearing Motions Disciplinary Decision
Aug 27, 2015 2012034934301 Wedbush Securities Inc. Disciplinary Decision

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