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 |
|---|---|---|---|
| April 10, 2000 | C01990002 | Bernard San Juan Rondez | Disciplinary Decision |
| April 06, 2000 | C07960105 | Wayne B. Vaughan | Disciplinary Decision |
| February 07, 2000 | CMS950041 | In the Matter of Market Regulation Committee, Complainant, vs. Respondent 1 and Respondent Firm 2 | Disciplinary Decision, Redacted Decision |
| January 18, 2000 | CMS960235 | Morgan Stanley & Co., Inc., Thomas Anthony Crocamo, Carl DeFelice, Joseph Louis Ferrarese, Peter William Ferriso, Jr., Robert Scott Ranzman, Charles McMichael Simonds, & David Robert Slaine | Disciplinary Decision |
| January 01, 2000 | SD00004 | Proposed Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2000 | SD00011 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2000 | SD00003 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| January 01, 2000 | SD00013 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| January 01, 2000 | SD00005 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2000 | SD00012 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2000 | SD00007 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| January 01, 2000 | SD00001 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2000 | SD00006 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Approvals |
| January 01, 2000 | SD00002 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| January 01, 2000 | SD00010 | In the Matter of the Association of X | Redacted Decision, Statutory Disqualification, Denials |
| December 17, 1999 | C02980051 | Gordon Kerr | Disciplinary Decision |
| December 14, 1999 | C04990005 | Bradford Lee Brinton | Disciplinary Decision |
| November 12, 1999 | C9A980021 | Robert J. Kendzierski | Disciplinary Decision |
| November 09, 1999 | C9B960013 | Steven D. Goodman | Disciplinary Decision |
| November 04, 1999 | C8A980054 | Sylvester Cannon, Jr. | Disciplinary Decision |
| November 03, 1999 | C04970050 | Ansula Pet Hwa Liu | Disciplinary Decision |
| November 03, 1999 | C02980025 | Roger Harry Chlowitz | Disciplinary Decision |
| November 03, 1999 | C02970018 | In the Matter of District Business Conduct Committee For District No. 2, Complainant, vs. Respondent | Disciplinary Decision, Redacted Decision |
| October 31, 1999 | CAF980025 | Richard Stephen Levitov & Ralph Joseph Angeline | Disciplinary Decision |
| October 18, 1999 | C07980011 | Mark S. Balbirer | Disciplinary Decision |