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
Jan 1, 2001 SD01025 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2002 SD02001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2002 SD02002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2002 SD02003 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2002 SD02004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2002 SD02007 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2002 SD02008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2002 SD02009 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2002 SD02010 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Oct 14, 2003 SD03001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Oct 14, 2003 SD03002 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
Oct 14, 2003 SD03005 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials
Oct 14, 2003 SD03006 In the Matter of the Continued Membership of Sponsoring Firm 1 Redacted Decision, Statutory Disqualification, Denials
Oct 14, 2003 SD03007 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials
Oct 14, 2003 SD03008 In the Matter of X as a Limited Representative – Corporate Securities Representative Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2004 SD04001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2004 SD04002 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2004 SD04004 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Oct 12, 2004 SD04005 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2004 SD04006 In the Matter of the Continued 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, 2004 SD04008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04009 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals

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