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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
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 2009020465801 APPEALED: Keith D. Geary Disciplinary Decision
July 20, 2016 SD-2044 Xavier Capdepon Statutory Disqualification, Denials
July 19, 2016 2011028502101 North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
July 18, 2016 2012033351801 Paolo Franca Iida Disciplinary Decision
July 18, 2016 2012034389202 APPEALED: Bernard G. McGee Disciplinary Decision
July 15, 2016 SD-2096 Louis A. Woolf with Voya Financial Advisors, Inc. Statutory Disqualification, Approvals
June 17, 2016 SD-2026 RBS Securities, Inc. Statutory Disqualification
June 08, 2016 SD-2088 James D. Goodland with Spire Securities LLC Statutory Disqualification, Approvals
May 20, 2016 SD-2027 APPEALED: Christopher Cota with Capital Financial Services, Inc. Statutory Disqualification, Denials
May 16, 2016 2010022977801 APPEALED: David B. Tysk Disciplinary Decision
May 09, 2016 SD-2069 APPEALED: Bruce Meyers with Meyers Associates, L.P. Statutory Disqualification, Denials
April 06, 2016 SD-2010 Michael C. Furman with Citigroup Global Markets, Inc. Statutory Disqualification, Approvals
March 24, 2016 SD-MCDC-057 Janney Montgomery Scott LLC Statutory Disqualification, Approvals
March 24, 2016 SD-MCDC-060 First Midstate, Inc. Statutory Disqualification, Approvals
March 24, 2016 SD-MCDC-062 Roosevelt & Cross, Inc. Statutory Disqualification, Approvals
March 24, 2016 SD-MCDC-064 Jefferies LLC
Approvals, Statutory Disqualification
March 24, 2016 SD-MCDC-054 D.A. Davidson & Co. Statutory Disqualification, Approvals