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
May 24, 2005 C02020057 Alvin W. Gebhart, Jr. and Donna T. Gebhart Disciplinary Decision
Jul 25, 2007 C02040016 Philippe N. Keyes Disciplinary Decision
Dec 28, 2005 C02040016 Philippe N. Keyes Disciplinary Decision
May 24, 2007 C02040032 Dana N. Frankfort Disciplinary Decision
Feb 12, 2007 C02050006 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision
Jan 6, 1998 C02950044 Lori Sue Koppel-Heath Disciplinary Decision
Aug 28, 1997 C02950053 Michael Edgar Goldstein, Jeffrey B. Goodman, Jason Scott Neu, William Reininger, & Joseph Patrick Hannan Disciplinary Decision
Feb 5, 1999 C02960001 Harold B. Gallison, Jr., Gregory K. Mehlmann, Robert C. Weaver, Gerald R. Budke, Christopher S. Knight, La Jolla Capital Corporation Disciplinary Decision
Nov 13, 1998 C02960024 James Basil Peters Disciplinary Decision
Jan 20, 1998 C02960031 Donna R. Roach Disciplinary Decision
Mar 30, 1999 C02960039 Harry Gliksman & William Gallagher Disciplinary Decision
Jan 23, 1998 C02960042 Stephen J. Gluckman Disciplinary Decision
Mar 6, 1998 C02970007 Aaron Eugene Granath Disciplinary Decision
Nov 3, 1999 C02970018 In the Matter of District Business Conduct Committee For District No. 2, Complainant, vs. Respondent Disciplinary Decision, Redacted Decision
Jul 28, 1998 C02970027 Nancy H. Martin Disciplinary Decision
Nov 3, 1999 C02980025 Roger Harry Chlowitz Disciplinary Decision
Dec 17, 1999 C02980051 Gordon Kerr Disciplinary Decision
May 16, 2001 C02990022 Joseph Gaetano Gerace Disciplinary Decision
Jan 23, 2001 C02990042,C02980085 Robert Tretiak Disciplinary Decision
May 17, 2001 C02990052 Shailesh B. Patel Disciplinary Decision
Feb 23, 2007 C04050005 Robert E. Strong Disciplinary Decision
May 7, 2007 C04050014 Dennis P. Cooper Disciplinary Decision
Jan 16, 1998 C04960004 Tammy S. Kwikkel-Elliott Disciplinary Decision
Apr 6, 1999 C04970034 Kevin Harrison Stricklin Disciplinary Decision
Nov 3, 1999 C04970050 Ansula Pet Hwa Liu Disciplinary Decision