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Office of Hearing Officers’ Decisions and Orders

The Office of Hearing Officers is an office of impartial adjudicators of disciplinary cases brought by FINRA’s Department of Enforcement against FINRA members.

The Office of Hearing Officers maintains strict independence from FINRA's regulatory programs and is physically separated from other FINRA departments.

Hearing officers are not involved in the investigative process. Employment protections exist for hearing officers to further ensure their independence; they may not be terminated except by the FINRA Chief Executive Officer, with a right to appeal to the Audit Committee of FINRA's Board of Governors.

View:  Orders and Decisions Chronologically  |  Orders by Topic  |  Orders by Rule
Date of Decision Proceeding No. Title Type Order No.
April 21, 2021 2019064416201 Travis Scott Hughes Disciplinary Decision
February 18, 2021 2015045257501 APPEALED: Ricky Alan Mantei Disciplinary Decision
January 13, 2021 ARB200025 Giovanni Antonio Malatesta Expedited Decision
September 15, 2020 ARB200002 Michael Joseph Shimko, Jr. Expedited Decision
August 25, 2020 2016049414401 Order Directing Respondent To File Answer Compliant With FINRA Rule 9215 Disciplinary Order 20-13
August 19, 2020 2018058924502 Order Denying Respondent's Cross-Motion to Strike Disciplinary Order 20-12
August 17, 2020 FPI200001 Roderick Kenneth Day Expedited Decision
August 17, 2020 2018057755201 Order Granting Respondent’s Rule 9252 Motion Disciplinary Order 20-11
August 14, 2020 2018058924502 Order Granting in Part and Denying in Part Enforcement’s Motion to Strike Affirmative Defenses and Request for Relief Disciplinary Order 20-16
August 12, 2020 2019063790901 Order Denying Respondent’s Motion for Return of His Computer, Motion in Limine to Preclude/Place Conditions on Testimony of Customer, and Discovery Motion Disciplinary Order 20-15
August 05, 2020 2017055164001 Order Denying Respondent’s Motions In Limine Disciplinary Order 20-10
July 31, 2020 2018058924502 Order Denying Motion for Summary Disposition Disciplinary Order 20-14
July 15, 2020 ARB200024 Order Granting Department of Enforcement’s Motion To Strike Respondent’s Defense And Request for Hearing Expedited Order EXP20-01
July 02, 2020 2016048837401 Order Granting In Part And Denying In Part Respondent’s Motion In Limine Regarding Expert Testimony Disciplinary Order 20-09
July 01, 2020 2018058286901 APPEALED: Wilfredo Felix and Primex Prime Electronic Execution, Inc. d/b/a Primex Disciplinary Decision
June 30, 2020 ARB200006 Daniel Paul Motherway Expedited Decision
June 18, 2020 2014041541401 Order Requiring Certification of Compliance With FINRA Rule 9910 Disciplinary Order 20-08
June 05, 2020 2016052104101 APPEALED: Devin Lamarr Wicker Disciplinary Decision
June 01, 2020 2017055164001 Order Denying Respondent’s Motion For Production Of Witness Statements Under Rule 9253 Disciplinary Order 20-07
May 27, 2020 2017053462401 Order Denying Respondent’s Motion To Amend Answer Disciplinary Order 20-06
May 27, 2020 2017053843901 Michael Patrick Murphy Disciplinary Decision
May 21, 2020 2016048393501 Shopoff Securities, Inc., William A Shopoff, and Stephen R. Shopoff Disciplinary Decision
May 15, 2020 2017054405401 APPEALED: William Joseph Kielczewski Disciplinary Decision
May 01, 2020 2018059510201 APPEALED: Thomas Lykos Disciplinary Decision
April 16, 2020 ARB190040 Stephen Paul Seglund Expedited Decision