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
Feb 1, 1999 ARB980019 Non-Summary Suspension Proceeding ARB980019 Expedited Decision, Non-Summary Proceeding
Mar 4, 2003 C01020014 Hearing Panel Decision in Department of Enforcement v. Paul Joseph Benz Disciplinary Decision
Dec 14, 2017 ARB170025 Matthew Grady Expedited Decision
Mar 15, 2007 ARB060035 Wedbush Morgan Securities, Inc. Expedited Decision, Rule 9550 Expedited Decisions
Dec 19, 2011 2007010158001 Hearing Panel Decision in Department of Enforcement v. CapWest Securities Inc. Disciplinary Decision
Feb 14, 2014 2012032997201 Hearing Panel Decision in Department of Enforcement v. Stephen Grivas Disciplinary Decision
Jul 25, 2016 FR160001 Merriman Capital Inc. Expedited Decision
Dec 15, 1998 C9A980021 Hearing Panel Decision in Department of Enforcement v. Robert J. Kendzierski Disciplinary Decision
May 21, 2010 20070094468 Amended Hearing Panel Decision in Department of Enforcement v. Dirk Allen Taylor Disciplinary Decision
Nov 15, 2000 C3A990067 Hearing Panel Decision as to Respondent Redacted Decision
Jun 2, 2009 2005000324301 Hearing Panel Decision in Department of Market Regulation v. Jerry William Burch Disciplinary Decision
Mar 4, 2002 C05010017 Hearing Panel Decision in Department of Enforcement v. James S. Davenport Disciplinary Decision
Mar 3, 2017 2014039285401 APPEALED: Southeast, N.C., Inc. and Frank Harmon Black Disciplinary Decision
Dec 19, 2007 C10040052 Hearing Panel Decision in Department of Enforcement v. Scott Mathis Disciplinary Decision
Jan 4, 2005 CAF030067 Hearing Panel Decision in Department of Enforcement vs. Asensio Brokerage Services, Inc. Disciplinary Decision
Nov 19, 2004 C05030036 Hearing Panel Decision in Department of Enforcement vs. Sisung Securities Corporation et al. Disciplinary Decision
Mar 15, 2013 2010021621201 Hearing Panel Decision in Department of Enforcement v. Michael Pino Disciplinary Decision
Feb 29, 2016 2012034936005 APPEALED: David Joseph Escarcega Disciplinary 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
Mar 5, 2019 2013035345701 APPEALED: Titan Securities, Brad Brooks and Richard Demetriou Disciplinary Decision
May 14, 2008 20060049953-01 Hearing Panel Decision in Department of Enforcement v. Joseph Ricupero Disciplinary Decision
Dec 15, 2017 2013037522501 APPEALED: Trevor Michael Saliba, Sperry Randall Younger, Richard Daniel Tabizon, and Arthur Mansourian Disciplinary Decision
Apr 12, 2007 E1020040926-01 Hearing Panel Decision in Department of Enforcement v. Respondents Redacted Decision
Dec 13, 2011 2008011762801 Amended Hearing Panel Decision in Department of Enforcement v. Mitchell Fillet Disciplinary Decision

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