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 |
|---|---|---|---|
| January 01, 2011 | SD11008 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2011 | SD11005 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| January 01, 2011 | SD11006 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2011 | SD11001 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| January 01, 2011 | SD11002 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2011 | SD11007 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2011 | SD11003 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| December 28, 2010 | 2006007544401 | M. Paul De Vietien | Disciplinary Decision |
| December 22, 2010 | 2006005318801 | Kent M. Houston | Disciplinary Decision |
| December 17, 2010 | 2007009848801 | Dante J. DiFrancesco | Disciplinary Decision |
| November 30, 2010 | 20090196759 | NAC Redacted Membership Decision 20090196759 | Membership Decision |
| October 26, 2010 | E102003025201 | Robert Conway and Kakit Ng | Disciplinary Decision |
| October 21, 2010 | 2006005696601 | Westrock Advisors, Inc. | Disciplinary Decision |
| October 15, 2010 | 2007008358101 | Vincent P. McCrudden | Disciplinary Decision |
| October 08, 2010 | 2008012026601 | CMG Institutional Trading, LLC and Shawn D. Baldwin | Disciplinary Decision |
| October 08, 2010 | 2005000879302 | Legacy Trading Co., LLC and Mark Alan Uselton | Disciplinary Decision |
| September 28, 2010 | 20090182345 | In the Matter of the New Membership Application of Firm A | Membership Decision |
| August 19, 2010 | 2006003834901 | Moustafa M. Zayed | Disciplinary Decision |
| August 18, 2010 | EAF0400630001 | Kevin L. Cohen, Dennis S. Kaminski, and Gari C. Sanfilippo | Disciplinary Decision |
| August 18, 2010 | 20090173549 | In the Matter of the Membership Continuance Application of Applicant Firm A | Membership Decision |
| July 30, 2010 | 2007010306901 | FCS Securities and Dale Kleinser | Disciplinary Decision |
| July 26, 2010 | 2005000835801 | Harry Friedman | Disciplinary Decision |
| May 10, 2010 | 2005003188901 | Richard G. Cody | Disciplinary Decision |
| May 03, 2010 | 2006006890801 | CMG Institutional Trading LLC and Shawn D. Baldwin | Disciplinary Decision |
| April 23, 2010 | E8A2004072203 | Jonathan M. Skiba | Disciplinary Decision |