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.
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 Denying the Parties' Motions in Limine Disciplinary Order 22-13
July 14, 2022 2019061528001 Order Granting Enforcement's Motion for Leave to Use Demonstrative Disciplinary Order 22-14
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
July 07, 2022 2019064656601 APPEALED: Charles Scott Burford Disciplinary Decision
June 27, 2022 2019064746502 Worden Capital Management Disciplinary Decision - Default
June 10, 2022 2018057235801 APPEALED: Megurditch Patatian Disciplinary Decision
June 10, 2022 2018058537302 Jorge Antonio Netto Disciplinary Decision
June 03, 2022 2019063633301 Order Granting in Part and Denying in Part Department of Enforcement's Motion to Strike Respondent's Affirmative Defenses and Portions of the Answer Disciplinary Order 22-11
May 26, 2022 2020068470002 Order Denying Respondent's Motion to Stay Proceeding Disciplinary Order 22-10
May 26, 2022 2019061528001 Order Denying Respondents' Motion for Leave to Offer Expert Testimony Disciplinary Order 22-09
May 17, 2022 2019063633301 Order Governing Respondent's Briefing on Department of Enforcement's Motion to Strike Respondent's Affirmative Defenses and Portions of the Answer Disciplinary Order 22-08
April 14, 2022 2020066388801 Roger Braxton Disciplinary Decision - Default
April 14, 2022 2020068740302 Marco A. Rivera Disciplinary Decision - Default
April 07, 2022 FPI210010 Alpine Securities Corporation Expedited Decision
April 01, 2022 2020067014602 Order Rejecting Respondent's Submission and Requiring Respondent to File Rule-Compliant Answer Disciplinary Order 22-07
March 25, 2022 2018057274302 APPEALED: Hearing Panel Decision - Department of Enforcement v. Jason L. DiPaola Disciplinary Decision
March 22, 2022 2019061232601 APPEALED: Alpine Securities Corporation Disciplinary Decision
March 08, 2022 2019064813801 Supplemental Order Regarding Denial of Respondents’ Request for Postponement Disciplinary Order 22-06
March 03, 2022 2019060753502 Jason A. Wilk Disciplinary Decision - Default
March 02, 2022 2019060648701 Order Denying Respondents’ Motion to Dismiss Disciplinary Order 22-05
February 10, 2022 2018058537302 Order Granting Department of Enforcement’s Motion for Leave to Use Demonstrative Disciplinary Order 22-04