Skip to main content
Welcome to the new FINRA.org. Learn more about our updates.
Create your own user feedback survey

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
June 05, 1997 CMS950087 Kevin Eric Shaughnessy Disciplinary Decision
January 01, 1997 SD97007 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
January 01, 1997 SD97001 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
January 01, 1997 SD97006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
January 01, 1997 SD97004 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
January 01, 1997 SD97008 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
January 01, 1997 SD97002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
January 01, 1997 SD97009 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Denials
January 01, 1997 SD97005 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
January 01, 1997 SD97010 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Approvals
January 01, 1997 SD97003 In the Matter of the Continued Association of X Redacted Decision, Statutory Disqualification, Denials