Office of Hearing Officers’ Decisions and Orders
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. |
|---|---|---|---|---|
| May 28, 2020 | 2019064884501 | Gustavo T. Franco | Disciplinary Decision - Default | |
| May 27, 2020 | 2017053462401 | Order Denying Respondent’s Motion To Amend Answer | Disciplinary Order | 20-06 |
| May 27, 2020 | 2017053843901 | Michael Patrick Murphy | Disciplinary Decision | |
| May 21, 2020 | 2016048393501 | Shopoff Securities, Inc., William A Shopoff, and Stephen R. Shopoff | Disciplinary Decision | |
| May 15, 2020 | 2017054405401 | APPEALED: William Joseph Kielczewski | Disciplinary Decision | |
| May 01, 2020 | 2018059510201 | APPEALED: Thomas Lykos | Disciplinary Decision | |
| April 16, 2020 | ARB190040 | Stephen Paul Seglund | Expedited Decision | |
| April 09, 2020 | 2018060216701 | Bryce P. Jenney | Disciplinary Decision - Default | |
| March 26, 2020 | 2015045257501 | Order On Motion For Summary Disposition Of Affirmative Defenses | Disciplinary Order | 20-05 |
| March 06, 2020 | 2019061947501 | Erik P. Pica | Disciplinary Decision - Default | |
| March 06, 2020 | 2015047244701 | Order Denying Respondent Shea’s Motion To Sever | Disciplinary Order | 20-04 |
| February 27, 2020 | 2018057829001 | James G. McKinney | Disciplinary Decision - Default | |
| February 07, 2020 | 2017056688202 | Daniel J. Arcuri | Disciplinary Decision - Default | |
| February 05, 2020 | 2018059545201 | APPEALED: Robert Juan Escobio | Disciplinary Decision | |
| January 31, 2020 | 2018059510201 | Order Governing Post-Hearing Briefing | Disciplinary Order | 20-03 |
| January 21, 2020 | 2017054405401 | Order Governing Withdrawal Of Certain Admitted Exhibits That Were Admitted | Disciplinary Order | 20-02 |
| January 21, 2020 | 2017054405401 | Order Regarding Filing Transcript Of Voice Message | Disciplinary Order | 20-01 |
| December 20, 2019 | 2016048921102 | Order Granting Motion to Withhold From Production Documents Outside the Scope of This Proceeding | Disciplinary Order | 19-37 |
| December 19, 2019 | 2017055608101 | APPEALED: Kapil Maheshwari | Disciplinary Decision | |
| December 17, 2019 | 2016051493704 | APPEALED: Jorge A. Reyes | Disciplinary Decision | |
| December 05, 2019 | 2015045257501 | Order Granting Motion to Withhold Certain Emails | Disciplinary Order | 19-36 |
| November 29, 2019 | 2017054405401 | Order Granting Enforcement’s Motion in Limine | Disciplinary Order | 19-35 |
| November 11, 2019 | ARB190024 | Jonathan R. Lake | Expedited Decision | |
| November 06, 2019 | 2018059510201 | Case Management and Scheduling Order | Disciplinary Order | 19-29 |
| November 05, 2019 | 2017053549901 | Michael R. Minghenelli | Disciplinary Decision - Default |