National Adjudicatory Council

The National Adjudicatory Council (NAC) is a FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings. While a decision is on appeal, the sanction is not actively enforced against the firm or individual. The NAC may affirm, dismiss, modify, or reverse any finding, or remand for further proceedings. The NAC may affirm, modify, reverse, increase, or reduce any sanction or impose any other fitting sanction.

Unless FINRA's Board of Governors decides to review the NAC's appellate decision, the NAC's decision represents FINRA's final action. A firm or individual can appeal FINRA's decision to the Securities and Exchange Commission.

Date of Decision Proceeding No. Titlesort descending Type
Jan 1, 1999 SD99022 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12010 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2006 SD06005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 2, 2012 SD12003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01021 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2006 SD06014 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2006 SD06008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99023 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2010 SD10001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1997 SD97009 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2006 SD06015 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1999 SD99012 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01018 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2000 SD00003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2011 SD11004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01019 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2005 SD05005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1998 SD98008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99020 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals

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