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
Dec 19, 2007 C10040052 Hearing Panel Decision in Department of Enforcement v. Scott Mathis Disciplinary Decision
Mar 1, 2006 C04050005 Hearing Panel Decision in Department of Enforcement vs. Robert E. Strong Disciplinary Decision
Mar 15, 2013 2010021621201 Hearing Panel Decision in Department of Enforcement v. Michael Pino Disciplinary Decision
Sep 16, 2004 C9B040033 Hearing Panel Decision in Department of Enforcement vs. Robert M. Ryerson Disciplinary Decision
Feb 29, 2016 2012034936005 APPEALED: David Joseph Escarcega Disciplinary Decision
Apr 28, 2015 2012033351801 CALLED FOR REVIEW: Paolo Franca Iida Disciplinary Decision
Mar 4, 2002 C05010017 Hearing Panel Decision in Department of Enforcement v. James S. Davenport Disciplinary Decision
Mar 19, 2000 C10990014 Hearing Panel Decision in Department of Enforcement v. Stephen Earl Prout Disciplinary Decision
Feb 14, 2014 2012032997201 Hearing Panel Decision in Department of Enforcement v. Stephen Grivas Disciplinary Decision
Nov 12, 2018 2015047303901 APPEALED: Kyle P. Harrington and Linda C. Milberger Disciplinary Decision
Jul 25, 2016 FR160001 Merriman Capital Inc. Expedited Decision
Jan 4, 2005 CAF030067 Hearing Panel Decision in Department of Enforcement vs. Asensio Brokerage Services, Inc. Disciplinary Decision
Jun 27, 2001 CAF000033 Hearing Panel Decision in Department of Enforcement v. Dennis Sturm Disciplinary Decision
Nov 29, 2005 C9B050011 Hearing Panel Decision in Department of Enforcement vs. Charles J. Cuozzo, Jr. Disciplinary Decision
Aug 25, 2017 ARB170007 Timothy S. Fannin Expedited Decision
Mar 4, 2003 C01020014 Hearing Panel Decision in Department of Enforcement v. Paul Joseph Benz Disciplinary Decision
Jun 2, 2009 2005000324301 Hearing Panel Decision in Department of Market Regulation v. Jerry William Burch Disciplinary Decision
Aug 11, 2010 E9B2003033701 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Mar 3, 2017 2014039285401 APPEALED: Southeast, N.C., Inc. and Frank Harmon Black Disciplinary Decision
Nov 30, 2007 E8A2005014902 Hearing Panel Decision in Department of Enforcement v. North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
Mar 23, 2004 CAF030014 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision
Jul 17, 2015 2012034936101 APPEALED: Jeffrey D. Noard Disciplinary Decision
Sep 8, 2003 03-02 Hearing Panel Decision as to Respondent Redacted Decision
Sep 28, 2004 C8A030099 Hearing Panel Decision in Department of Enforcement v. Timothy J. Duma Disciplinary Decision
May 14, 2008 20060049953-01 Hearing Panel Decision in Department of Enforcement v. Joseph Ricupero Disciplinary Decision

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