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
Nov 18, 2011 2007010580702 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Oct 12, 2004 C10030030 Hearing Panel Decision as to Respondent Redacted Decision
Dec 23, 1998 C8A980045 Hearing Panel Decision Redacted Decision
Jul 27, 2007 E8A2002109804 Hearing Panel Decision in Department of Enforcement v. Joseph A. Zaragoza Disciplinary Decision
Nov 18, 2016 ARB160035 Keith Patrick Sequeira Expedited Decision
Aug 13, 2015 2011025622001 SWS Financial Service, Inc. Disciplinary Decision
Oct 26, 2006 CAF040058 Hearing Panel Decision in Department of Enforcement vs. Andrew P. Gonchar and Polyvios T. Polyviou Disciplinary Decision
Aug 28, 2000 C02990022 Hearing Panel Decision in Department of Enforcement v. Joseph Gaetano Gerace Disciplinary Decision
Mar 29, 2004 CMS030269 Hearing Panel Decision in Market Regulation Department v. Anthony John Orlando, Jr., and Philip Anthony Orlando Disciplinary Decision
May 17, 2017 2012035284301 APPEALED: Richard A. McCollam Disciplinary Decision
Jun 13, 2018 2016049085401 APPEALED: Robert Charles McNamara Disciplinary Decision
May 6, 2009 2006005696601 Hearing Panel Decision in Department of Enforcement v. Westrock Advisors, Inc. Disciplinary Decision
Dec 30, 2003 C3A030017 Hearing Panel Decision in Department of Enforcement v. Fox & Company Investments, Inc. and James W. Moldermaker Disciplinary Decision
Jun 3, 2016 2013035211801 APPEALED: David A. Elgart Disciplinary Decision
Dec 30, 2011 2005002244102 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted 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
Aug 11, 2004 C07030065 In the Matter of Department of Enforcement, Complainant vs. Respondent 1 and Respondent 2 Redacted Decision
Apr 14, 2010 2007009403801 Hearing Panel Decision in Department of Enforcement v. Stephen W. Wilson Disciplinary Decision
Jul 12, 2007 E9A2004048801 Hearing Panel Decision in Department of Enforcement v. Brian J. Kelly Disciplinary Decision
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
Dec 1, 2016 ARB160019 Michael David Schwartz Expedited Decision
Aug 15, 2008 2005001729501 Hearing Panel Decision in Department of Enforcement v. Gerald J. Kesner Disciplinary Decision
Jan 26, 2011 2006004122402 Extended Hearing Panel Decision in Department of Enforcement v. Hedge Fund Capital Partners LLC and Howard G. Jahre 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
Apr 19, 2004 C05020055 Hearing Panel Decision in Department of Enforcement v. Michael F. Siegel Disciplinary Decision

Pages