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, 2001 SD01013 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2009 SD09006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04013 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1997 SD97001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2004 SD04010 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Oct 14, 2003 SD03004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2010 SD10006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2008 SD08003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2007 SD07003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2009 SD09007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 1998 SD98005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2005 SD05001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2000 SD00011 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2010 SD10002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1999 SD99016 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2006 SD06012 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2011 SD11008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 1998 SD98004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2005 SD05009 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2000 SD00013 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2001 SD010007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2006 SD06009 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2001 SD01012 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals

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