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Office of Hearing Officers

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.
July 01, 2020 2018058286901 APPEALED: Wilfredo Felix and Primex Prime Electronic Execution, Inc. d/b/a Primex Disciplinary Decision
June 05, 2020 2016052104101 Devin Lamarr Wicker Disciplinary Decision
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
February 05, 2020 2018059545201 APPEALED: Robert Juan Escobio Disciplinary Decision
December 19, 2019 2017055608101 APPEALED: Kapil Maheshwari Disciplinary Decision
December 17, 2019 2016051493704 APPEALED: Jorge A. Reyes Disciplinary Decision
November 11, 2019 ARB190024 Jonathan R. Lake Expedited Decision
November 06, 2019 2018059510201 Case Management and Scheduling Order Disciplinary Order 19-29
November 01, 2019 FPI190006 KJM Securities Expedited Decision
September 19, 2019 2016049321302 Order Granting Consent Motion to Sequester Disciplinary Order 19-28
September 12, 2019 2018059545201 Case Management and Scheduling Order Disciplinary Order 19-30
August 23, 2019 2018056848101 APPEALED: Thomas Lee Johnson Disciplinary Decision
August 22, 2019 2017053382401 Charles Edwin Taylor, Jodi Oyler Padgett, and John Lodge Farmer Disciplinary Decision
August 15, 2019 FPI190005 Myron K. Gruenberg Expedited Decision
August 15, 2019 FPI190001 - FPI190002 Alpine Securities Corp. and Scottsdale Capital Advisors Corp. Expedited Decision
August 07, 2019 2016051615301 APPEALED: Partho S. Ghosh Disciplinary Decision
August 07, 2019 2017052871401 APPEALED: William James Potter Disciplinary Decision
August 01, 2019 2015045312501 Supplemental Order Re: Denial of Second Motion to Stay Disciplinary Order 19-27
July 11, 2019 2017052760001 APPEALED: Nancy Kimball Mellon Disciplinary Decision
July 10, 2019 2015045312501 Order Regarding Discovery Disciplinary Order 19-26
July 08, 2019 2017054405401 Order Denying Respondent William Kielczewshi’s Request for the Issuance of a Request for Documents Disciplinary Order 19-25