National Adjudicatory Council
The National Adjudicatory Council (NAC) is a FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings. While a decision is on appeal, the sanction is not actively enforced against the firm or individual. The NAC may affirm, dismiss, modify, or reverse any finding, or remand for further proceedings. The NAC may affirm, modify, reverse, increase, or reduce any sanction or impose any other fitting sanction.
Unless FINRA's Board of Governors decides to review the NAC's appellate decision, the NAC's decision represents FINRA's final action. A firm or individual can appeal FINRA's decision to the Securities and Exchange Commission.
| Date of Decision | Proceeding No. | Title | Type |
|---|---|---|---|
| July 09, 2021 | SD-2249 | Industrial and Commercial Bank of China Financial Services LLC | Statutory Disqualification, Approvals |
| June 02, 2021 | SD-2185 | David A. Elgart | Statutory Disqualification, Approvals |
| June 02, 2021 | 2013035345701 | APPEALED: Titan Securities, Brad C. Brooks, and Richard Wayne Demetriou | Disciplinary Decision |
| June 02, 2021 | M00010007 | APPEALED: In the Matter of the New Member Application of Applicant Firm | Membership Decision, Redacted Decision |
| May 27, 2021 | 2017052871401 | William James Potter | Disciplinary Decision |
| May 26, 2021 | 2018058286901 | APPEALED: Wilfredo Felix | Disciplinary Decision |
| April 20, 2021 | SD-2218 | Charles Schwab & Co., Inc. | Statutory Disqualification, Approvals |
| March 10, 2021 | 2018059545201 | APPEALED: Robert Juan Escobio | Disciplinary Decision |
| February 09, 2021 | SD-2243 | Wells Fargo Securities, LLC | Statutory Disqualification, Approvals |
| December 22, 2020 | 2016050205901 | Charles A. Laverty | Disciplinary Decision |
| December 17, 2020 | 2017055608101 | Kapil Maheshwari | Disciplinary Decision |
| December 17, 2020 | 2015044782401 | APPEALED: Robbi J. Jones and Kipling Jones & Company, Ltd. | Disciplinary Decision |
| October 28, 2020 | SD-2226 | Zachary S. Brodt | Statutory Disqualification, Approvals |
| September 21, 2020 | 2014039174202 | Steven E. Larson | Disciplinary Decision |
| September 18, 2020 | 2015043646501 | APPEALED: Eric S. Smith | Disciplinary Decision |
| September 17, 2020 | 2016050938301 | APPEALED: Michael Joseph Clarke | Disciplinary Decision |
| June 29, 2020 | 2014042606902 | APPEALED: Silver Leaf Partners, LLC | Disciplinary Decision |
| June 23, 2020 | 2014041860801 | Sandlapper Securities, LLC, Trevor Lee Gordon, and Jack Charles Bixler | Disciplinary Decision |
| June 15, 2020 | 2014041868001 | Dennis A. Mehringer, Jr. | Disciplinary Decision |
| June 15, 2020 | 2015047005801 | Brian Colin Doherty | Disciplinary Decision |
| March 27, 2020 | 2009017440201r | APPEALED: Louis Ottimo | Disciplinary Decision |
| March 27, 2020 | 2015047303901 | Linda C. Milberger | Disciplinary Decision |
| March 27, 2020 | 2011027666902r | Merrimac Corporate Securities, Inc. and Robert G. Nash | Disciplinary Decision |
| March 16, 2020 | 2014043863001 | Peter Orlando | Disciplinary Decision |
| December 19, 2019 | SD-2246 | Banca IMI Securities Corp. | Statutory Disqualification, Approvals |