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
Mar 20, 2001 C10000102 Hearing Panel Decision as to Respondent Redacted Decision
Nov 8, 2011 2008014621701 Extended Hearing Panel Decision in Department of Enforcement v. Thomas Weisel Partners, LLC and Stephen H. Brinck, Jr. Disciplinary Decision
Apr 20, 2007 2005002570601 Hearing Panel Decision in Department of Enforcement v. Paul Douglas Paratore Disciplinary Decision
Apr 1, 2004 CMS030181 In the Matter of Department of Market Regulation, Complainant, vs. Respondent Redacted Decision
Dec 23, 1998 C8A980045 Hearing Panel Decision Redacted Decision
Jun 13, 2018 2016049085401 APPEALED: Robert Charles McNamara Disciplinary Decision
May 19, 2010 2007011937001 Hearing Panel Decision in Department of Enforcement v. Howard Braff Disciplinary Decision
Aug 13, 2015 2011025622001 SWS Financial Service, Inc. Disciplinary Decision
Apr 5, 2006 DFC050011 Decision in NASD Treasurer v. Lee Fisher Expedited Decision, Rule 9550 Expedited Decisions
Aug 28, 2000 C02990022 Hearing Panel Decision in Department of Enforcement v. Joseph Gaetano Gerace Disciplinary Decision
Feb 10, 2006 C07040042 Hearing Panel Decision in Department of Enforcement vs. John D. Kaweske Disciplinary Decision
Jul 8, 2005 C8A040079 Hearing Panel Decision in Department of Enforcement vs. Gregory R. Masceri Disciplinary Decision
Jun 9, 2011 2008015270701 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Feb 28, 2007 2005001514501 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Aug 15, 2008 2005001729501 Hearing Panel Decision in Department of Enforcement v. Gerald J. Kesner Disciplinary Decision
Mar 23, 2016 2010024522103 APPEALED: Brett Ian Friedberg Disciplinary Decision
Jul 8, 2003 C01020025 Hearing Panel Decision in Department of Enforcement v. Brookes McIntosh Bendetsen Disciplinary Decision
May 30, 2013 2010024889501 Extended Hearing Panel Decision in Department of Enforcement v. William B. Fretz, Jr., John P. Freeman, and The Keystone Equities Group, LP Disciplinary Decision
May 6, 2009 2006005696601 Hearing Panel Decision in Department of Enforcement v. Westrock Advisors, Inc. Disciplinary Decision
Oct 20, 2016 SD-2071 PHX Financial, Inc. Statutory Disqualification, Approvals
May 4, 2010 2007007989901 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Feb 1, 2006 C02040032 Hearing Panel Decision in Department of Enforcement vs. Dana N. Frankfort Disciplinary Decision
Jul 28, 2000 C8A980097 Hearing Panel Decision in Department of Enforcement v. Adam Galas, David, H. Shapiro, John J. Flynn, Protective Group Securities Corporation, and Michael F. Flannigan Disciplinary Decision
Aug 8, 2005 C02050006 Hearing Panel Decision in Department of Enforcement vs. Malvinder Sonny Matharu Disciplinary Decision
Nov 19, 1999 C8A990017 Hearing Panel Decision in Department of Enforcement v. David L. Foran Disciplinary Decision

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