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
Media: field_core_official_dt (year)
Date of Decision Proceeding No. Title Type Order No.
January 13, 2023 2020066627202 Order Denying Respondent’s Motion for Summary Disposition Disciplinary Order 23-01
January 13, 2023 2020066627202 Order Denying Respondent’s Motion to Strike Disciplinary Order 23-02
January 03, 2023 2020067731001 Patrick Matlock Disciplinary Decision - Default
December 22, 2022 2021071672302 Jordan P. John Disciplinary Decision - Default
December 16, 2022 2021070867702 David Hixon Disciplinary Decision - Default
December 02, 2022 2020066627202 Oder Granting Enforcement’s Motion for Leave to Offer Expert Testimony of Arthur Middlemiss Disciplinary Order 22-23
November 29, 2022 2021071965401 Daniel Pita Disciplinary Decision - Default
November 25, 2022 2020065396501 Order Granting, in Part, Respondent’s Motion to Extend Time to File Objections Disciplinary Order 22-22
October 31, 2022 2019064813801 Order Granting, in Part, Enforcement’s Motion for Interim Conditions and Restrictions on Respondents Disciplinary Order 22-21
September 23, 2022 2017055886402 Order Granting Motion to Continue Hearing and Requiring Parties to Submit Joint Proposed Schedule Disciplinary Order 22-20
September 21, 2022 2018056490303 Timothy P. Higgins Disciplinary Decision - Default
September 08, 2022 2017055886402 Order Excluding Unqualified Attorney from This Proceeding Disciplinary Order 22-18
August 30, 2022 2017055886402 Order Setting a Pre-Hearing Videoconference for Friday, September 2, 2022, and Specifically Requiring Respondent Raymond J. Derobbio to Attend Disciplinary Order 22-17
August 26, 2022 2019064813801 APPEALED: NYPPEX, LLC, Laurence Allen, and Michael Schunk Disciplinary Decision
August 18, 2022 ARB220007 Jeff Corey McElroy Expedited Decision
August 09, 2022 2020066627202 Order Denying Enforcement's Motion to Strike Respondent's Second Affirmative Defense Disciplinary Order 22-16
August 04, 2022 ARB220010 Order Dismissing Expedited Proceeding and Allowing Suspension to Take Effect Expedited Order EXP22-01
July 25, 2022 2021071060902 Gregory S. Hanshew Disciplinary Decision - Default
July 22, 2022 2020066627202 Order Denying Respondent's Motion to Dismiss with Leave to Re-file as a Motion for Summary Disposition Disciplinary Order 22-15
July 19, 2022 2020066032801 Francis J. Velten Disciplinary Decision - Default
July 14, 2022 2019061528001 Order Granting Enforcement's Motion for Leave to Use Demonstrative Disciplinary Order 22-14
July 14, 2022 2019061528001 Order Denying the Parties' Motions in Limine Disciplinary Order 22-13
July 12, 2022 2021071227301 Stephen G. Whitman Disciplinary Decision - Default
July 12, 2022 FPI220001 Ustocktrade Securities, Inc. Expedited Decision
July 11, 2022 2019061528001 Order Granting Enforcement's Motion to Sequester Witnesses Disciplinary Order 22-12