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.sort descending Title Type
Oct 18, 1999 C07980011 Mark S. Balbirer Disciplinary Decision
Aug 12, 1999 C07980019 John D. Morgan Disciplinary Decision
May 13, 1999 C07980027 Stuart G. Horowitz Disciplinary Decision
Apr 19, 2000 C07990016 James O. Baxter, Jr. Disciplinary Decision
Mar 20, 2002 C10000026 Damien R. Douglas Disciplinary Decision
Apr 26, 2002 C10000037 George M. Goritz Disciplinary Decision
Oct 21, 2002 C10000122 Vincent J. Puma Disciplinary Decision
Aug 11, 2003 C10000122 Vincent J. Puma Disciplinary Decision
Dec 13, 2001 C10000165 Stephen D. Carcaterra Disciplinary Decision
Apr 3, 2002 C10000210 James Henry Bond, III Disciplinary Decision
Mar 26, 2002 C10010005 Jeffrey B. Hodde Disciplinary Decision
Jan 3, 2003 C10010146 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision
Apr 27, 2004 C10020060 Andrew C. Knight Disciplinary Decision
Apr 5, 2005 C10020090 Joseph Abbondante Disciplinary Decision
Aug 20, 2004 C10030003 In the Matter of Department of Enforcement, Complainant vs. Respondent Firm Disciplinary Decision, Redacted Decision
Dec 7, 2005 C10030088 Andrew P. Schneider Disciplinary Decision
Oct 18, 2007 C10030095 John Audifferen Disciplinary Decision
May 25, 2005 C10030110 Ram Kapara Disciplinary Decision
Jan 17, 2007 C10040025 John Brigandi Disciplinary Decision
Dec 12, 2008 C10040052 Scott Mathis Disciplinary Decision
Jun 12, 1998 C10930017 Rafael Pinchas Disciplinary Decision
Jul 3, 1997 C10930044 Leonard John Ialeggio Disciplinary Decision
Aug 5, 1997 C10950101 In the Matter of District Business Conduct Committee For District No. 10 Complainant, v. Respondent Firm 1 and Respondent 2 Disciplinary Decision, Redacted Decision
Aug 5, 1997 C10950101 Forbes, Walsh, Kelly & Co., Inc., & Robert E. Kelly Disciplinary Decision
Dec 1, 1997 C10960019 David A. Blech Disciplinary Decision