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
Feb 15, 2013 2007010580702 Dennis Thomas Palmeri, Jr. Disciplinary Decision
Oct 1, 2013 2007010902501 Jeffrey B. Pierce Disciplinary Decision
Apr 16, 2015 2007011413501 APPEALED: Brookstone Securities, Inc., Antony Lee Turbeville, Christopher Dean Kline and David William Locy Disciplinary Decision
Feb 24, 2012 2007011489301 Ryan A. Leopold Disciplinary Decision
May 13, 2011 2007011937001 Howard Braff Disciplinary Decision
Dec 12, 2012 2008011701203 Daniel James Gallagher Disciplinary Decision
Oct 2, 2013 2008011762801 Mitchell H. Fillet Disciplinary Decision
Mar 7, 2016 2008011762801r APPEALED: Mitchell H. Fillet Disciplinary Decision
Jul 21, 2011 200801201960 Rebecca Amy Reichman Disciplinary Decision
Oct 8, 2010 2008012026601 CMG Institutional Trading, LLC and Shawn D. Baldwin Disciplinary Decision
Mar 7, 2012 2008012137601 Gregory Richard Imbruce Disciplinary Decision
Aug 1, 2014 20080127674 & 20080133768 Angelo Xagoraris Disciplinary Decision
May 2, 2014 2008012925001 APPEALED: The Dratel Group, Inc. and William M. Dratel Disciplinary Decision
Feb 15, 2013 2008014621701 Thomas Weisel Partners, LLC and Stephen H. Brinck, Jr. Disciplinary Decision
Jul 26, 2012 2008015105601 Nolan Wayne Moore Disciplinary Decision
Apr 26, 2013 2008015934801 Alan Jay Davidofsky Disciplinary Decision
Dec 17, 2013 2008016437801 Hugh Vincent Murray III Disciplinary Decision
Oct 3, 2014 2009016034101 APPEALED: Anthony A. Grey Disciplinary Decision
Jul 28, 2015 2009016159102 Warren Forest Disciplinary Decision
May 6, 2015 2009016317701 The Dratel Group, Inc. and William M. Dratel Disciplinary Decision
Jul 23, 2015 2009016317701 James E. Rooney, Jr. Disciplinary Decision
Dec 31, 2013 2009016764901 Robert Durant Tucker Disciplinary Decision
Apr 29, 2015 2009017195204 Merrimac Corporate Securities, Inc. Disciplinary Decision
Aug 18, 2010 20090173549 In the Matter of the Membership Continuance Application of Applicant Firm A Membership Decision
Feb 4, 2013 2009017439601 Timothy Joseph Golonka Disciplinary Decision

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