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.
May 27, 2020 2017053462401 Order Denying Respondent’s Motion To Amend Answer Disciplinary Order 20-06
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
April 09, 2020 2018060216701 Bryce P. Jenney Disciplinary Decision - Default
March 26, 2020 2015045257501 Order On Motion For Summary Disposition Of Affirmative Defenses Disciplinary Order 20-05
March 06, 2020 2019061947501 Erik P. Pica Disciplinary Decision - Default
March 06, 2020 2015047244701 Order Denying Respondent Shea’s Motion To Sever Disciplinary Order 20-04
February 27, 2020 2018057829001 James G. McKinney Disciplinary Decision - Default
February 07, 2020 2017056688202 Daniel J. Arcuri Disciplinary Decision - Default
February 05, 2020 2018059545201 APPEALED: Robert Juan Escobio Disciplinary Decision
January 31, 2020 2018059510201 Order Governing Post-Hearing Briefing Disciplinary Order 20-03
January 21, 2020 2017054405401 Order Governing Withdrawal Of Certain Admitted Exhibits Disciplinary Order 20-02
January 21, 2020 2017054405401 Order Regarding Filing Transcript Of Voice Message Disciplinary Order 20-01
December 20, 2019 2016048921102 Order Granting Motion to Withhold From Production Documents Outside the Scope of This Proceeding Disciplinary Order 19-37
December 19, 2019 2017055608101 APPEALED: Kapil Maheshwari Disciplinary Decision
December 17, 2019 2016051493704 APPEALED: Jorge A. Reyes Disciplinary Decision
December 05, 2019 2015045257501 Order Granting Motion to Withhold Certain Emails Disciplinary Order 19-36
November 29, 2019 2017054405401 Order Granting Enforcement’s Motion in Limine Disciplinary Order 19-35
November 11, 2019 ARB190024 Jonathan R. Lake Expedited Decision
November 06, 2019 2018059510201 Case Management and Scheduling Order Disciplinary Order 19-29
November 05, 2019 2017053549901 Michael R. Minghenelli Disciplinary Decision - Default
November 01, 2019 FPI190006 KJM Securities Expedited Decision