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 Decisionsort descending Proceeding No. Title Type Order No.
Feb 5, 2003 C8A020032 Hearing Panel Decision in Department of Enforcement v. Leroy Avery Disciplinary Decision
Feb 7, 2003 C07020067 Order Granting Motion in Limine Disciplinary Order 03-14
Feb 7, 2003 C9B020048 Hearing Panel Decision in Department of Enforcement v. John Michael Brack Disciplinary Decision
Feb 10, 2003 C8A010094 Hearing Panel Decision in Department of Enforcement v. Jonathan B. Day Disciplinary Decision
Feb 13, 2003 C10010004 Hearing Panel Decision in Department of Enforcement v. Yakov (Jack) Koppel Disciplinary Decision
Feb 21, 2003 DFC020018 Hearing Panel Decision in NASD Treasurer v. Respondent Disciplinary Decision
Mar 4, 2003 C01020014 Hearing Panel Decision in Department of Enforcement v. Paul Joseph Benz Disciplinary Decision
Mar 16, 2003 C9A020017 Hearing Panel Decision in Department of Enforcement v. Emanuel L. Sarris Disciplinary Decision
Mar 19, 2003 C3A020039 Order Regarding Complainant's Motion for a Preclusion Order Disciplinary Order 03-04
Mar 27, 2003 C3A010036 Hearing Panel Decision in Department of Enforcement v. Castle Securities Corp., Michael Studer, and Respondent 3 Disciplinary Decision
Mar 30, 2003 C3B020015 Order Granting in Part and Denying in Part Respondents' Motion to Compel Discovery Disciplinary Order 03-05
Apr 3, 2003 C3B020015 Order Granting in Part and Denying in Part Complainant's Motion for Summary Disposition Disciplinary Order 03-06
Apr 8, 2003 CAF020023 Order Granting Complainant's Motion in Limine Disciplinary Order 03-08
Apr 8, 2003 CAF020048 Pre-Hearing Order Directing ___________ to File a Power of Attorney Disciplinary Order 03-07
Apr 17, 2003 C01020025 Order Denying Motion to Bifurcate Hearing Disciplinary Order 03-09
Apr 25, 2003 C06020003 Hearing Panel Decision in Department of Enforcement v. Patterson Travis, Inc., David T. Travis, Eric H. Dieffenbach, and Michel A. Rooms Disciplinary Decision
Apr 28, 2003 C9B020046 Hearing Panel Decision in Department of Enforcement v. Justin E. Apgar Disciplinary Decision
Apr 30, 2003 C3B020015 Order Rejecting Contested Offer of Settlement Disciplinary Order 03-12
Apr 30, 2003 CMS020143 Order Denying Complainant's Motion in Limine Disciplinary Order 03-11
Apr 30, 2003 CMS020143 Order Denying Complainant's Motion to Disqualify Counsel Disciplinary Order 03-10
May 14, 2003 C9B020060 Hearing Panel Decision in Department of Enforcement v. Mark Paul Adler Disciplinary Decision
May 21, 2003 CAF030007 Order Granting in Part and Denying in Part Respondent's Motion for More Definite Statement Disciplinary Order 03-13
May 21, 2003 C07010099 Hearing Panel Decision in Department of Enforcement v. Rooney A. Sahai Disciplinary Decision
May 27, 2003 C07010099 Hearing Panel Decision in Department of Enforcement v. Thomas A. Timberlake Disciplinary Decision
Jun 4, 2003 C9A030006 Order Denying Motion for Summary Disposition Disciplinary Order 03-15

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