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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 02, 2014 20130379350 APPEALED: Bering Strait Securities, Inc. Membership Decision
October 02, 2014 SD-1798 Wells Fargo Advisors, LLC Statutory Disqualification, Approvals
September 29, 2014 M00010005 In the Matter of the Membership Continuance Application of The Firm Membership Decision, Redacted Decision
August 01, 2014 20080127674 & 20080133768 Angelo Xagoraris Disciplinary Decision
July 25, 2014 2011027007901 APPEALED: Shashishekhar Doni Disciplinary Decision
July 21, 2014 2010021303301 North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision
July 18, 2014 2009019837302 APPEALED: Blair C. Mielke and Frederick W. Shultz Disciplinary Decision
June 03, 2014 2010023724601 David Kristian Evansen Disciplinary Decision
May 20, 2014 2010021621201 Michael Pino Disciplinary Decision
May 14, 2014 2011025674101 Shlomi S. Eplboim Disciplinary Decision
May 09, 2014 2010023349601 APPEALED: Denise M. Olson Disciplinary Decision
May 07, 2014 SD-1757, SD-1758, & SD-1896 UBS Financial Services, Inc., and UBS Securities, LLC Statutory Disqualification, Approvals
May 02, 2014 2008012925001 APPEALED: The Dratel Group, Inc. and William M. Dratel Disciplinary Decision
April 24, 2014 2011029760201 Charles Schwab & Company, Inc. Disciplinary Decision
March 27, 2014 SD-1975 Patrick Dukette Statutory Disqualification, Approvals
March 05, 2014 2009017527501 Steven R. Tomlinson Disciplinary Decision
February 25, 2014 2011025643201 Ronald E. Walblay Disciplinary Decision
February 21, 2014 2011029152401 William Bruce Smith Disciplinary Decision
February 20, 2014 2009018076101 Blair Alexander West Disciplinary Decision
February 19, 2014 SD-1812 Mitchell T. Toland Statutory Disqualification, Denials
January 31, 2014 SD-1794 RBC Capital Markets, LLC Statutory Disqualification
January 16, 2014 SD-1750 Joseph Popp Statutory Disqualification
December 31, 2013 2009016764901 Robert Durant Tucker Disciplinary Decision
December 31, 2013 2009018771602 Robert H. Watkins Disciplinary Decision
December 26, 2013 20070082049 Robert Marcus Lane and Jeffrey G. Lane Disciplinary Decision