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 Decisionsort ascending Proceeding No. Title Type
Oct 12, 2004 SD04005 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials
Sep 7, 2004 C3B020015 Davrey Financial Services, Inc. Disciplinary Decision
Aug 20, 2004 C10030003 In the Matter of Department of Enforcement, Complainant vs. Respondent Firm Disciplinary Decision, Redacted Decision
Aug 16, 2004 C01020025 Brookes McIntosh Bendetsen Disciplinary Decision
Aug 16, 2004 CAF010021 J. Alexander Securities, Inc. Disciplinary Decision
Aug 12, 2004 C9B020032 Rooney A. Sahai Disciplinary Decision
Aug 9, 2004 C01020025 Brookes McIntosh Bendetsen Disciplinary Decision
Aug 9, 2004 C3B020013 Christopher R. Van Dyk Disciplinary Decision
Jul 30, 2004 C06020003 Eric H. Dieffenbach and Michel A. Rooms Disciplinary Decision
May 13, 2004 C9A020052 Guang Lu Disciplinary Decision
May 11, 2004 C01020014 Paul Joseph Benz Disciplinary Decision
Apr 27, 2004 C10020060 Andrew C. Knight Disciplinary Decision
Feb 24, 2004 SD04017 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Other
Feb 19, 2004 C3A010036 Castle Securities Corp. & Michael Studer Disciplinary Decision
Jan 1, 2004 SD04002 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04004 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
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
Jan 1, 2004 SD04010 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, 2004 SD04014 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04015 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
Jan 1, 2004 SD04001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials

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