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
Feb 22, 2018 SD-2123 Catherine Ann Sheridan Statutory Disqualification, Approvals
Mar 23, 2017 SD-2120 Alexander Bastron with Cambridge Investment Research Statutory Disqualification, Approvals
Mar 8, 2017 SD-2117 Craig Scott Taddonio as a General Securities Representative with Meyers Associates, L.P. (n/k/a Windsor Street Capital, LP) Statutory Disqualification
Sep 14, 2016 SD-2104 SD-2104 Edwin Kantor with S2K Financial LLC Statutory Disqualification, Approvals
May 16, 2017 SD-2103 Marc N. Jaffe as a General Securities Representative with Integrity Brokerage Services, Inc. Statutory Disqualification, Denials
Jul 15, 2016 SD-2096 Louis A. Woolf with Voya Financial Advisors, Inc. Statutory Disqualification, Approvals
Nov 29, 2018 SD-2095 Ronald B. Smith Statutory Disqualification, Approvals
Jun 8, 2016 SD-2088 James D. Goodland with Spire Securities LLC Statutory Disqualification, Approvals
May 9, 2016 SD-2069 APPEALED: Bruce Meyers with Meyers Associates, L.P. Statutory Disqualification, Denials
Jan 25, 2017 SD-2062 Oppenheimer & Co., Inc. Statutory Disqualification, Approvals
Sep 8, 2016 SD-2048 Citigroup Global Markets Inc. Statutory Disqualification
Jul 20, 2016 SD-2044 Xavier Capdepon Statutory Disqualification, Denials
Sep 29, 2015 SD-2029 Bret M. Shapiro with Dawson James Securities, Inc. Statutory Disqualification, Denials
May 20, 2016 SD-2027 APPEALED: Christopher Cota with Capital Financial Services, Inc. Statutory Disqualification, Denials
Jun 17, 2016 SD-2026 RBS Securities, Inc. Statutory Disqualification
Apr 6, 2016 SD-2010 Michael C. Furman with Citigroup Global Markets, Inc. Statutory Disqualification, Approvals
Dec 11, 2014 SD-1997 Ronald M. Berman Statutory Disqualification, Denials
Mar 27, 2014 SD-1975 Patrick Dukette Statutory Disqualification, Approvals
Apr 22, 2015 SD-1962 Candace J. Lee with Financial Services International Corp Statutory Disqualification, Approvals
Apr 30, 2015 SD-1960 Scott Mathis with DPEC, Inc. Statutory Disqualification, Approvals
Feb 19, 2014 SD-1812 Mitchell T. Toland Statutory Disqualification, Denials
Dec 17, 2014 SD-1802 Deutsche Bank Securities, Inc. Statutory Disqualification
Oct 2, 2014 SD-1798 Wells Fargo Advisors, LLC Statutory Disqualification, Approvals
Jan 31, 2014 SD-1794 RBC Capital Markets, LLC Statutory Disqualification
May 7, 2014 SD-1757, SD-1758, & SD-1896 UBS Financial Services, Inc., and UBS Securities, LLC Statutory Disqualification, Approvals

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