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
Jul 2, 2012 20070082049 Hearing Panel Decision in Department of Market Regulation v. Robert Marcus Lane and Jeffrey Griffin Lane Disciplinary Decision
May 6, 2009 2006005696601 Hearing Panel Decision in Department of Enforcement v. Westrock Advisors, Inc. Disciplinary Decision
Oct 23, 2015 2013038136101 Andrew Lyman Quinn, Disciplinary Decision
Sep 3, 2003 CAF010011 Hearing Panel Decision in Department of Enforcement v. J. Alexander Securities, Inc., Richard Newberg, and James Alexander Disciplinary Decision
Oct 20, 2016 SD-2071 PHX Financial, Inc. Statutory Disqualification, Approvals
Jul 8, 2014 2012032950101 Hearing Panel Decision in Department of Enforcement v. Joseph R. Butler Disciplinary Decision
Mar 23, 2016 2010024522103 APPEALED: Brett Ian Friedberg Disciplinary Decision
Mar 18, 2016 2012034719701 APPEALED: Paul E. Taboada Disciplinary Decision
Apr 19, 2004 C05020055 Hearing Panel Decision in Department of Enforcement v. Michael F. Siegel Disciplinary Decision
Jan 4, 2013 FPI120005 Hearing Panel Decision in Department of Enforcement v. Gregory E. Goldstein Expedited Decision, Rule 9550 Expedited Decisions
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
May 24, 2005 C9A040024 Hearing Panel Decision in Department of Enforcement vs. Charles C. Fawcett, IV Disciplinary Decision
Aug 6, 2010 2005001988201 Amended Hearing Panel Decision in Department of Enforcement v. Mark B. Beloyan and Tradespot Markets, Inc. Disciplinary Decision
Nov 19, 1999 C8A990017 Hearing Panel Decision in Department of Enforcement v. David L. Foran Disciplinary Decision
Oct 14, 2008 2006006890801 Hearing Panel Decision in Department of Enforcement v. CMG Institutional Trading, LLC and Shawn Baldwin Disciplinary Decision
Jan 30, 2001 C07000023 Hearing Panel Decision as to Respondent Redacted Decision
Oct 11, 2016 2015044379701 Melissa M. Velasquez Disciplinary Decision
Aug 6, 2004 CLI030013 Hearing Panel Decision as to Respondent 1, 2, and 3 Redacted Decision
Oct 15, 2001 CMS000142 Hearing Panel Decision in Department of Enforcement v. Ko Securities, Inc. and Terrance Yoshikawa Disciplinary Decision
Jun 14, 2012 2009019369302 Amended Hearing Panel Decision in Department of Enforcement v. Jeff Ng Disciplinary Decision
Nov 6, 2015 2014041319201 APPEALED: Miguel Ortiz Disciplinary Decision
Dec 2, 1998 C8A980012 Department of Enforcement, Complainant v. Respondent Redacted Decision
Sep 10, 2018 FPI180002 TMR Bayhead Securities Disciplinary Decision
Dec 21, 2005 C01050008 Hearing Panel Decision as to Respondent Redacted Decision
Feb 7, 2008 E102004083705 Hearing Panel Decision in Department of Enforcement v. Lisa Ann Tomiko Nouchi Disciplinary Decision

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