(a) Appeal to SEC; Effect
The right to have any action pursuant to the
Rule 9200 Series or the
Rule 9300 Series reviewed by the SEC is governed by Section 19 of the Exchange Act. The filing with the SEC of an application for review by the SEC shall stay the effectiveness of any sanction, other than a bar, or an expulsion under Rule 9268 or 9269, imposed in a decision constituting final disciplinary action of FINRA for purposes of SEA Rule 19d-1(c)(1). Pursuant to Rule 9360, an expulsion in a decision issued under Rule 9349 or Rule 9351 shall not become effective until the time for filing an application for review with the SEC has expired and no such application is filed or, if such an application is timely filed, until the SEC completes its review under Exchange Act Section 19.
(b) FINRA Notification to Member
FINRA shall promptly notify any FINRA member with which a Respondent is associated if the Respondent files an application for review to the SEC.
