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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
September 26, 2012 2007008239001 ACAP Financial Inc. and Gary Hume Disciplinary Decision
September 20, 2012 2010021916601 Joseph S. Amundsen Disciplinary Decision
September 14, 2012 2007007792902 Edward S. Brokaw Disciplinary Decision
August 01, 2012 2006005786501 Joseph A. Padilla and Andrea M. Ritchie(f/k/a Andrea M. Bruno) Disciplinary Decision
July 26, 2012 2008015105601 Nolan Wayne Moore Disciplinary Decision
May 02, 2012 2007007151101 Merrimac Corporate Securities, Inc. Disciplinary Decision
May 01, 2012 2006004122402 Hedge Fund Capital Partners, LLC and Howard G. Jahre Disciplinary Decision
March 07, 2012 2008012137601 Gregory Richard Imbruce Disciplinary Decision
March 02, 2012 20060051788-01 Harrison A. Hatzis Disciplinary Decision
February 24, 2012 2007011489301 Ryan A. Leopold Disciplinary Decision
February 21, 2012 2006005259801 John Joseph Plunkett Disciplinary Decision
January 02, 2012 SD12001 In the Matter of the Continued Association of X as a General Securities Representative Redacted Decision, Statutory Disqualification, Denials
January 02, 2012 SD12008 In the Matter of the Continued Association of X as a General Securities Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Denials
January 02, 2012 SD12003 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
January 02, 2012 SD12009 In the Matter of the Continued Association of X as a General Securities Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Approvals
January 02, 2012 SD12002 In the Matter of the Association of X as an Associated Person with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Denials
January 02, 2012 SD12006 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
January 02, 2012 SD12004 In The Matter of the Association of X as an Investment Company and Variable Contracts Products Limited Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Approvals
January 02, 2012 SD12010 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals
January 02, 2012 SD12005 In the Matter of the Continued Association of X as a General Securities Representative with The Sponsoring Firm Redacted Decision, Statutory Disqualification, Denials
January 02, 2012 SD12007 In the Matter of the Continued Membership of Firm X with FINRA Redacted Decision, Statutory Disqualification, Approvals
December 28, 2011 2007009403801 Stephen W. Wilson Disciplinary Decision
December 20, 2011 2005001988201 Mark B. Beloyan and Tradespot Markets, Inc. Disciplinary Decision
October 20, 2011 2005003610701 William J. Murphy, Carl M. Birkelbach, and Birkelbach Investment Securities, Inc. Disciplinary Decision
October 04, 2011 2007009981201 Robert D. Tucker Disciplinary Decision