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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
March 16, 2017 2013035211801 APPEALED: David Adam Elgart Disciplinary Decision
March 15, 2017 2010025087302 APPEALED: Thaddeus J. North Disciplinary Decision
March 15, 2017 2011025444501 Wood (Arthur W.) Company, Inc. Disciplinary Decision
March 15, 2017 2009017440201 APPEALED: Louis Ottimo Disciplinary Decision
March 13, 2017 2011027926301 Matthew Joseph Sheerin Disciplinary Decision
March 08, 2017 SD-2117 Craig Scott Taddonio as a General Securities Representative with Meyers Associates, L.P. (n/k/a Windsor Street Capital, LP) Statutory Disqualification
February 09, 2017 SD-2125 Alfred G. Block with Buckman, Buckman and Reid, Inc. Statutory Disqualification, Approvals
January 25, 2017 SD-2062 Oppenheimer & Co., Inc. Statutory Disqualification, Approvals
January 13, 2017 2011026346206 Jaoshiang Luo Disciplinary Decision
January 13, 2017 2013036799501 J. Michael Casas Disciplinary Decision
January 10, 2017 2012033362101 Thomas Edmund Connors Disciplinary Decision
January 06, 2017 2012030724101 Fox Financial Management Corporation, Brian A. Murphy, James E. Rooney, Jr. Disciplinary Decision
January 04, 2017 2014041319201 Miguel Ortiz Disciplinary Decision
October 20, 2016 SD-2071 PHX Financial, Inc. Statutory Disqualification, Approvals
October 11, 2016 2009020941801 APPEALED: Lek Securities Corporation Disciplinary Decision
October 03, 2016 2012032519101 Robert Earl Holaday Disciplinary Decision
September 30, 2016 SD-2040 Randy G. Ruhl with J.J.B. Hilliard, W.L. Lyons, LLC Approvals, Statutory Disqualification
September 14, 2016 SD-2104 SD-2104 Edwin Kantor with S2K Financial LLC Statutory Disqualification, Approvals
September 08, 2016 SD-2048 Citigroup Global Markets Inc. Statutory Disqualification
August 23, 2016 2011025675501 APPEALED: Kimberly Springsteen-Abbott Disciplinary Decision
August 03, 2016 2011025851501 APPEALED: KCD Financial, Inc. Disciplinary Decision
July 21, 2016 2010022601501 Jack Brian Weinstock Disciplinary Decision
July 20, 2016 SD-2044 Xavier Capdepon Statutory Disqualification, Denials
July 20, 2016 2009020465801 APPEALED: Keith D. Geary Disciplinary Decision
July 19, 2016 2011028502101 North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision