Office of Hearing Officers

The Office of Hearing Officers is an office of impartial adjudicators of disciplinary cases brought by FINRA’s Department of Enforcement against FINRA members.

The Office of Hearing Officers maintains strict independence from FINRA's regulatory programs and is physically separated from other FINRA departments.

Hearing officers are not involved in the investigative process. Employment protections exist for hearing officers to further ensure their independence; they may not be terminated except by the FINRA Chief Executive Officer, with a right to appeal to the Audit Committee of FINRA's Board of Governors.

View:  Orders and Decisions Chronologically  |  Orders by Topic  |  Orders by Rule
Date of Decision Proceeding No. Title Type Order No.sort descending
Jun 2, 2009 2005000324301 Hearing Panel Decision in Department of Market Regulation v. Jerry William Burch Disciplinary Decision
Dec 15, 1998 C9A980021 Hearing Panel Decision in Department of Enforcement v. Robert J. Kendzierski Disciplinary Decision
Nov 21, 2001 C07010017 Hearing Panel Decision as to Respondent Redacted Decision
Jun 20, 2017 2014041724601 APPEALED: Scottsdale Capital Advisors Corporation, John J. Hurry, Timothy B. Diblasi, and D. Michael Cruz Disciplinary Decision
Jul 16, 2018 2015047069701 Leslie George Markus Disciplinary Decision
Jan 11, 2013 2009016764901 Hearing Panel Decision in Department of Enforcement v. Robert Durant Tucker Disciplinary Decision
Nov 15, 2000 C3A990067 Hearing Panel Decision as to Respondent Redacted Decision
Dec 19, 2007 C10040052 Hearing Panel Decision in Department of Enforcement v. Scott Mathis Disciplinary Decision
Jun 4, 2004 CMS020247 Hearing Panel Decision in Department of Market Regulation v. Terrance Yoshikawa Disciplinary Decision
Aug 11, 2003 C3B020015 Hearing Panel Decision in Department of Enforcement v. Davrey Financial Services, Inc., and Pravin R. Davrey Disciplinary Decision
Aug 11, 2010 E9B2003033701 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Mar 6, 2001 C07000003 Hearing Panel Decision in Department of Enforcement v. Jack H. Stein Disciplinary Decision
Apr 28, 2015 2012033351801 CALLED FOR REVIEW: Paolo Franca Iida Disciplinary Decision
Feb 1, 1999 ARB980019 Non-Summary Suspension Proceeding ARB980019 Expedited Decision, Non-Summary Proceeding
Jan 7, 2005 ARB040032 Stephen B. Webster Expedited Decision, Rule 9550 Expedited Decisions
Dec 15, 2006 2005000315901 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
May 31, 2012 2007011413501 Extended Hearing Panel Decision in Department of Enforcement v. Brookstone Securities, Inc., Antony Lee Turbeville, Christopher Dean Kline, and David William Locy Disciplinary Decision
Mar 24, 2002 FPI010004 Hearing Panel Decision in Department of Enforcement v. Toni Valentino Expedited Decision, Rule 9540 Suspension Decisions
May 18, 2007 E8A2003091501 Hearing Panel Decision in Department of Enforcement v. Roy M. Strong Disciplinary Decision
May 26, 2017 2014040295201 Carolina Financial Securities, LLC, and Bruce Victor Roberts Disciplinary Decision
Sep 14, 2018 2014039775501 James Randall Clay Disciplinary Decision
Aug 2, 2000 C01990013 Hearing Panel Decision as to Respondent Redacted Decision
Nov 30, 2007 E8A2005014902 Hearing Panel Decision in Department of Enforcement v. North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
Dec 30, 2014 2009020941801 APPEALED: Lek Securities Corporation and Samuel Frederik Lek Disciplinary Decision
Aug 7, 2003 CMS020143 Hearing Panel Decision in Department of Enforcement v. Joseph A. Geraci, II Disciplinary Decision

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