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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 |
|---|---|---|---|
| August 10, 2015 | SD-MCDC-028 | Piper Jaffray & Co. | Statutory Disqualification, Approvals |
| August 10, 2015 | SD-MCDC-029 | Sterne, Agee & Leach, Inc. | Statutory Disqualification, Approvals |
| August 10, 2015 | SD-MCDC-010 | Central States Capital Markets, LLC | Approvals, Statutory Disqualification |
| August 10, 2015 | SD-MCDC-023 | Smith Hayes Financial Services Corporation | Statutory Disqualification, Approvals |
| August 10, 2015 | SD-MCDC-005 | The Baker Group, LP | Approvals, Statutory Disqualification |
| August 10, 2015 | SD-MCDC-001 | Loop Capital Markets LLC | Statutory Disqualification, Approvals |
| August 10, 2015 | SD-MCDC-018 | BMO Capital Markets GKST Inc. | Statutory Disqualification, Approvals |
| August 10, 2015 | SD-MCDC-002 | George K. Baum & Company | Statutory Disqualification, Approvals |
| August 10, 2015 | SD-MCDC-033 | Merrill Lynch, Pierce, Fenner & Smith Inc. | Statutory Disqualification, Approvals |
| July 28, 2015 | 2009016159102 | Warren Forest | Disciplinary Decision |
| July 27, 2015 | 2011027993301 | APPEALED: Michael Earl McCune | Disciplinary Decision |
| July 23, 2015 | 2009016317701 | James E. Rooney, Jr. | Disciplinary Decision |
| July 16, 2015 | 2012032997201 | APPEALED: Stephen Grivas | Disciplinary Decision |
| June 23, 2015 | SD-2059 | Stephen J. Pocina with Eroom Securities LLC | Statutory Disqualification, Approvals |
| May 06, 2015 | 2009016317701 | The Dratel Group, Inc. and William M. Dratel | Disciplinary Decision |
| May 04, 2015 | M00010006 | APPEALED: In the Matter of the New Membership Application Firm X | Membership Decision, Redacted Decision |
| April 30, 2015 | SD-1960 | Scott Mathis with DPEC, Inc. | Statutory Disqualification, Approvals |
| April 29, 2015 | 2009017195204 | Merrimac Corporate Securities, Inc. | Disciplinary Decision |
| April 22, 2015 | SD-1962 | Candace J. Lee with Financial Services International Corp | Statutory Disqualification, Approvals |
| April 16, 2015 | SD-2054 | Patrick C. Lubin with Dinosaur Securities | Statutory Disqualification, Approvals |
| April 16, 2015 | 2007011413501 | APPEALED: Brookstone Securities, Inc., Antony Lee Turbeville, Christopher Dean Kline and David William Locy | Disciplinary Decision |
| March 25, 2015 | SD-2025 | ConvergEx Execution Solutions, LLC | Statutory Disqualification, Approvals |
| March 16, 2015 | 2006006705601r | APPEALED: John M.E. Saad | Disciplinary Decision |
| March 09, 2015 | 2011025899601 | David and Sian Harari | Disciplinary Decision |
| March 03, 2015 | 20110269351 | John Cherry, III | Disciplinary Decision |