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 ascending Title Type
Jan 1, 2000 SD00005 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2000 SD00004 Proposed 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, 2000 SD00002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
Jan 1, 2000 SD00001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Nov 21, 2018 SD-2203 Gates Capital Corporation Statutory Disqualification, Approvals
Mar 15, 2019 SD-2195 Scott Coy Statutory Disqualification, Denials
May 25, 2018 SD-2189 Francis D. Moise, Sr., with First Western Securities, Inc. Statutory Disqualification, Approvals
Jun 25, 2018 SD-2183 David Girton Statutory Disqualification, Approvals
Aug 1, 2018 SD-2180 State Street Global Markets, LLC Statutory Disqualification, Approvals
Aug 1, 2018 SD-2179 State Street Global Advisors Funds Distributors, LLC Statutory Disqualification, Approvals
May 14, 2018 SD-2172 APPEALED: Windsor Street Capital, L.P. (f/k/a Meyers Associates, L.P.) Statutory Disqualification, Denials
Nov 3, 2017 SD-2160 Louis Capital Markets, LP Statutory Disqualification, Approvals
Dec 20, 2018 SD-2157 Allan Wolfe Statutory Disqualification, Approvals
Jun 16, 2017 SD-2154 James H. Dean with American Portfolios Financial Services, Inc. Statutory Disqualification, Approvals
Aug 17, 2018 SD-2151 Jesse B. Shelmire, IV with Stonegate Capital Markets, Inc. Statutory Disqualification, Approvals
Apr 5, 2018 SD-2150 David P. Brown Statutory Disqualification, Approvals
Mar 7, 2019 SD-2148 Guy Wyser-Pratte Statutory Disqualification, Denials
Nov 28, 2017 SD-2147 Morgan Stanley Smith Barney Statutory Disqualification, Approvals
Dec 11, 2017 SD-2144 Goldman, Sachs & Co. Statutory Disqualification, Approvals
May 2, 2019 SD-2140 Stifel, Nicolaus & Co., Inc. Statutory Disqualification
Mar 23, 2017 SD-2138 Sandra M. Logay with Mid Atlantic Capital Corporation Statutory Disqualification, Approvals
Mar 13, 2018 SD-2137 APPEALED: Gabriel Block Statutory Disqualification, Denials
May 24, 2018 SD-2132 APPEALED: Kimberly Springsteen-Abbott Statutory Disqualification, Denials
Jul 27, 2017 SD-2130 APPEALED: Robert J. Escobio Statutory Disqualification, Denials

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