SIE Exam Question 728: Answer and Explanation

Question: 728

Which of the following is the FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings? It may affirm, dismiss, modify, or reverse any finding, or remand the case for further proceedings.

• A. Board of Governors
• B. FINRA Disciplinary Council
• C. National Adjudicatory Council
• D. None of the above are correct.

Correct Answer: C

Explanation:

The National Adjudicatory Council (NAC) is the FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings. It may affirm, dismiss, modify, or reverse any finding, or remand the case for further proceedings.