For updates and guidance related to COVID-19 / Coronavirus, click here.
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 |
|---|---|---|---|
| November 20, 1997 | C07960065 | Christopher K. Cutchens | Disciplinary Decision |
| November 20, 1997 | C10960116 | Ilana Abby Knapp | Disciplinary Decision |
| November 20, 1997 | C07960014 | In the Matter of District Business Conduct Committee for District No. 7 Complainant, vs. Respondent 1, and Respondent 2, and Respondent 3 | Disciplinary Decision, Redacted Decision |
| November 18, 1997 | C3A960014 | John Holland | Disciplinary Decision |
| November 18, 1997 | C3A960014 | In the Matter of District Business Conduct Committee for District No. 3 Complainant, vs. Respondent 1 | Disciplinary Decision, Redacted Decision |
| November 05, 1997 | C01950010 | Ashton N. Gowadia | Disciplinary Decision |
| October 30, 1997 | C8A930048 | Miguel Angel Cruz | Disciplinary Decision |
| October 30, 1997 | C8A950030 | James Allen Merlen & City Securities Corporation | Disciplinary Decision |
| October 10, 1997 | C05960041 | In the Matter of District Business Conduct Committee for District No. 5, Complainant, vs. Respondent 1 | Disciplinary Decision, Redacted Decision |
| September 19, 1997 | C3A940064 | Aspen Capital Group, Inc., & Stephen Carlson | Disciplinary Decision |
| September 18, 1997 | C8A940073 | Steven Herbert Johansen | Disciplinary Decision |
| September 05, 1997 | C01960013 | In the Matter of District Business Conduct Committee for District No. 1, Complainant, vs. Respondent 1 | Disciplinary Decision, Redacted Decision |
| August 28, 1997 | C05950018 | In the Matter of District Business Conduct Committee For District No. 5 Complainant, v. Respondent 1 | Disciplinary Decision, Redacted Decision |
| August 28, 1997 | C01950021 | In the Matter of District Business Conduct Committee for District No. 1, Complainant, vs. Respondent 1 and Respondent 2 | Disciplinary Decision, Redacted Decision |
| August 28, 1997 | C05950018 | John M.W. Crute, Jr. | Disciplinary Decision |
| August 28, 1997 | C02950053 | Michael Edgar Goldstein, Jeffrey B. Goodman, Jason Scott Neu, William Reininger, & Joseph Patrick Hannan | Disciplinary Decision |
| August 22, 1997 | CMS920002 | Warren R. Schreiber & Marian S. Gargano | Disciplinary Decision |
| August 22, 1997 | C8A960074 | In the Matter of District Business Conduct Committee For District No. 8 Complainant, vs. Respondent 1 | Disciplinary Decision, Redacted Decision |
| August 12, 1997 | CMS950129 | Vladislav Steven Zubkis | Disciplinary Decision |
| August 11, 1997 | C01960005 | Clyde Joseph Bruff | Disciplinary Decision |
| August 05, 1997 | C10950101 | Forbes, Walsh, Kelly & Co., Inc., & Robert E. Kelly | Disciplinary Decision |
| August 05, 1997 | C10950101 | In the Matter of District Business Conduct Committee For District No. 10 Complainant, v. Respondent Firm 1 and Respondent 2 | Disciplinary Decision, Redacted Decision |
| August 05, 1997 | C9A960002 | Shamrock Partners, Ltd. & James T. Kelly | Disciplinary Decision |
| July 28, 1997 | C9B950014 | Michael R. Euripides | Disciplinary Decision |
| July 25, 1997 | C3B940028 | Investment Management & Research, Inc., Milton Anthony Greene, Kenneth Craig Krull, & Michael John DiGirolamo | Disciplinary Decision |