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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 |
|---|---|---|---|
| December 17, 2015 | 2010024889501 | William B. Fretz, Jr, John P. Freeman and The Keystone Equities Group, LP | Disciplinary Decision |
| December 17, 2015 | 20110273503 | Richard A. McGuire | Disciplinary Decision |
| December 17, 2015 | 2010025181001 | APPEALED: John Vincent Ballard | Disciplinary Decision |
| November 30, 2015 | SD-MCDC-051 | UBS Financial Services Inc. | Approvals, Statutory Disqualification |
| November 30, 2015 | SD-MCDC-037 | Mesirow Financial, Inc. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-046 | Ameritas Investment Corp. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-045 | Northland Securities, Inc. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-038 | Joe Jolly & Co., Inc. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-044 | Estrada Hinojosa & Company, Inc. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-050 | Edward D. Jones & Co., L.P. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-036 | J.J.B. Hilliard, W.L. Lyons, LLC | Approvals, Statutory Disqualification |
| November 30, 2015 | SD-MCDC-049 | Comerica Securities, Inc. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-042 | NW Capital Markets, Inc. | Approvals, Statutory Disqualification |
| November 30, 2015 | SD-MCDC-035 | PNC Capital Markets LLC | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-048 | The Frazer Lanier Company, Incorporated | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-039 | Duncan-Williams, Inc. | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-043 | BB&T Securities, LLC | Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-040 | Ross, Sinclaire & Associates | Approvals, Statutory Disqualification |
| November 30, 2015 | SD-MCDC-047 | Crews & Associates, Inc. |
Statutory Disqualification, Approvals |
| November 30, 2015 | SD-MCDC-052 | Prager & Co., LLC | Statutory Disqualification |
| November 30, 2015 | SD-MCDC-041 | Fifth Third Securities, Inc. | Statutory Disqualification, Approvals |
| October 05, 2015 | 2009017899801 | APPEALED: Rani T. Jarkas | Disciplinary Decision |
| September 29, 2015 | SD-2029 | Bret M. Shapiro with Dawson James Securities, Inc. | Statutory Disqualification, Denials |
| September 25, 2015 | 2012034211301 | APPEALED: Fuad Ahmed | Disciplinary Decision |
| September 25, 2015 | 2012032950101 | APPEALED: Joseph R. Butler | Disciplinary Decision |