National Adjudicatory Council

The National Adjudicatory Council (NAC) is a FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings. While a decision is on appeal, the sanction is not actively enforced against the firm or individual. The NAC may affirm, dismiss, modify, or reverse any finding, or remand for further proceedings. The NAC may affirm, modify, reverse, increase, or reduce any sanction or impose any other fitting sanction.

Unless FINRA's Board of Governors decides to review the NAC's appellate decision, the NAC's decision represents FINRA's final action. A firm or individual can appeal FINRA's decision to the Securities and Exchange Commission.

Media: field_core_official_dt (year)
Date of Decision Proceeding No. Title Type
September 14, 2007 C07050042 Wanda P. Sears Disciplinary Decision
August 12, 2007 CAF030014 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision
July 31, 2007 20060058633 NAC Redacted Membership Decision 20060058633 Membership Decision
July 27, 2007 E9A2004001901 Douglas J. Toth Disciplinary Decision
July 27, 2007 E072004072501 Andrew J. Hardin Disciplinary Decision
July 26, 2007 C07050029 Anthony Cipriano Disciplinary Decision
July 25, 2007 C8A050055 Daniel W. Bukovcik Disciplinary Decision
July 25, 2007 C02040016 Philippe N. Keyes Disciplinary Decision
July 10, 2007 E9A2004001901 Douglas J. Toth Disciplinary Decision
May 24, 2007 C02040032 Dana N. Frankfort Disciplinary Decision
May 11, 2007 C05020055 Michael F. Siegel Disciplinary Decision
May 07, 2007 C04050014 Dennis P. Cooper Disciplinary Decision
February 27, 2007 C9B050011 Charles J. Cuozzo, Jr. Disciplinary Decision
February 27, 2007 C8A050027 Marylan Taylor Disciplinary Decision
February 23, 2007 C04050005 Robert E. Strong Disciplinary Decision
February 16, 2007 E072004044201 Ralph Merhi Disciplinary Decision
February 15, 2007 C3A050003 Kenneth Christopher Shelley Disciplinary Decision
February 12, 2007 C06040027 Sterling Scott Lee and Dennis Todd Lloyd Gordon Disciplinary Decision
February 12, 2007 C07040042 John D. Kaweske Disciplinary Decision
February 12, 2007 C02050006 In the Matter of Department of Enforcement, Complainant vs. Respondent Disciplinary Decision, Redacted Decision
January 23, 2007 C3A040023 John M. Meyers and Brian C. Klein Disciplinary Decision
January 17, 2007 C10040025 John Brigandi Disciplinary Decision
January 08, 2007 C9A040024 Charles C. Fawcett IV Disciplinary Decision
January 03, 2007 C3A040001 Charles A. DaCruz and Thomas J. Linda Disciplinary Decision
January 01, 2007 SD07002 In the Matter of the Association of X Redacted Decision, Statutory Disqualification, Approvals